WESTERN ALLIANCE BANCORP (WAL) Stock Technical Analysis
NYSE:WAL - New York Stock Exchange, Inc. - US9576381092 - Common Stock - Currency: USD
Taking everything into account, WAL scores 2 out of 10 in our technical rating. WAL has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
In the last month WAL has a been trading in the 69.89 - 76.77 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been consolidating recently, but much resistance may still be present above.
Looking at the yearly performance, WAL did better than 70% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
WAL is an average performer in the Banks industry, it outperforms 50% of 395 stocks in the same industry.
WAL is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so WAL is lagging the market slightly.
WAL has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 71.59, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
61.48
94.86
When analyzing the support we can see 4 important areas.
- A support zone ranging from 70.79 to 71.59. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @65.33 from a trend line in the weekly time frame.
- Support @63.20 from a trend line in the weekly time frame.
- Support @62.10 from a horizontal line in the weekly time frame.
We can see 5 important resistance areas.
- A resistance zone ranging from 72.78 to 74.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @78.13 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 79.94 to 80.56. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @90.96 from a trend line in the daily time frame.
- Resistance @93.92 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for WAL is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WAL is neutral. |
| ChartMill Relative Strength | 70.41 | POSITIVE | WAL has a high relative strength, it outperformed 70.41% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of WAL is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WAL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of WAL is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 48.06 | NEUTRAL | The RSI value for WAL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.25 | NEGATIVE | The MACD value suggests WAL has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 23.82 | NEUTRAL | The Stochastics value for WAL is a neutral value. |
| Average True Range in percent/ATR (20) | 2.96 | MEDIUM VOLATILITY | The ATR as a percentage value for WAL suggests some volalility. |
| Average Directional Index/ADX (14) | 9.37 | NEGATIVE | The low ADX value for WAL suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
72.38
+1.59 (+2.25%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg2.25%
1 Week-2.7%
2 Weeks0.49%
1 Month-4.26%
3 Month-6.53%
6 Month-14.46%
12 Month22.68%
2 Year98.46%
3 Year2.52%
5 Year91.13%
10 Year114.4%
15 Year909.48%
Volatility
ATR(14)2.07
ATR(20)%2.96%
ATR Inc14.35%
Range Today2.77
ADR(20)1.95
ADR(20)%2.69%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS70.41
Mansfield-1.29
10 Day High76.77
10 Day Low70.38
20 Day High76.77
20 Day Low69.89
52 Week High98.1
52 Week Low57.05
CS1 End71.59
CR1 Start72.78
Volume & EV
DER(3)-2.56%
DER(5)-1.31%
Volume640.40K
Volume Incr-14.45%
Vol(5)647.44K
Vol(50)984.89K