WESTERN ALLIANCE BANCORP (WAL) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:WAL • US9576381092
We assign a technical rating of 8 out of 10 to WAL. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, WAL is only an average performer.
- WAL is part of the Banks industry. There are 383 other stocks in this industry, of which 68% are performing better than WAL.
- The long and short term trends are both positive. This is looking good!
- WAL is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- When compared to the yearly performance of all other stocks, WAL outperforms 64% of them, which is more or less in line with the market.
- In the last month WAL has a been trading in the 85.62 - 93.70 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
WAL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 91.12. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 89.72, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
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When analyzing the support we can see 7 important areas.
- A support zone ranging from 89.15 to 89.72. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 85.47 to 87.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 84.07 to 84.07. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @79.94 from a horizontal line in the daily time frame.
- Support @78.41 from a trend line in the weekly time frame.
- A support zone ranging from 71.29 to 71.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @66.78 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 91.12 to 92.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @93.74 from a horizontal line in the weekly 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 | UP | POSITIVE | The long term trend for WAL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WAL is up. |
| ChartMill Relative Strength | 64.04 | NEUTRAL | WAL is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WAL is above the rising 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) | UP | POSITIVE | The current price of WAL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.2 | NEUTRAL | The RSI value for WAL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests WAL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 76.57 | NEUTRAL | The Stochastics value for WAL is a neutral value. |
| Average True Range in percent/ATR (20) | 3.28 | MEDIUM VOLATILITY | The ATR as a percentage value for WAL suggests some volalility. |
| Average Directional Index/ADX (14) | 20.39 | NEUTRAL | The ADX value for WAL suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 92.17 | 89.14 | 3.03 (3.29%) | 25.00% |
| An entry @92.17. This is a Buy Stop order right above the resistance zone. | An exit @89.14. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 3.03 points, which is 3.29%. | For a 0.82% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of WAL. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
91.11
-1.05 (-1.14%)
WESTERN ALLIANCE BANCORP / WAL FAQ
What is the technical rating for WAL stock?
ChartMill assigns a technical rating of 8 / 10 to WAL.
What is the current trend direction of WESTERN ALLIANCE BANCORP (WAL) stock?
The current trend direction for WESTERN ALLIANCE BANCORP (WAL) is Bullish.
Can you provide the RSI signal for WESTERN ALLIANCE BANCORP?
WESTERN ALLIANCE BANCORP (WAL) has an RSI value of 57.2011. This indicates that the stock is currently neutral.
What is the short term momentum for WESTERN ALLIANCE BANCORP (WAL) stock?
The short term momentum for WESTERN ALLIANCE BANCORP (WAL) is positive.
Can you provide the support and resistance levels for WESTERN ALLIANCE BANCORP?
WESTERN ALLIANCE BANCORP (WAL) has a support level at 89.72 and a resistance level at 91.12. Check the full technical report for our detailed analysis of WAL support and resistance levels.