WALGREENS BOOTS ALLIANCE INC (WBA) Stock Technical Analysis
NASDAQ:WBA - Nasdaq - US9314271084 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to WBA. Although WBA is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, WBA also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 11.38, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for WBA in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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When analyzing the support we can see 2 important areas.
- A support zone ranging from 10.93 to 11.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 10.58 to 10.67. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- Resistance @11.58 from a trend line in the weekly time frame.
- Resistance @12.53 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 WBA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WBA is up. |
| ChartMill Relative Strength | 41.79 | NEUTRAL | WBA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WBA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WBA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WBA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.65 | NEUTRAL | The RSI value for WBA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests WBA has a positive trend. |
| Stochastics (14,3) | 95.59 | OVERBOUGHT | The high Stochastics value suggests WBA may be overbought. |
| Average True Range in percent/ATR (20) | 0.63 | LOW VOLATILITY | The low ATR as a percentage value for WBA suggests low volalility. |
| Average Directional Index/ADX (14) | 29.62 | POSITIVE | The high ADX value value for WBA suggests a strong 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 |
|---|---|---|---|
| 11.49 | 11.26 | 0.23 (2.00%) | 25.00% |
| An entry @11.49. This is a Buy Stop order right above the resistance zone. | An exit @11.26. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.23 points, which is 2.00%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.50%. |
- 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.
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