WBA climbs to highest close since June 27th


Walgreens Boots Alliance Inc. (WBA) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

WBA pushes through key resistance level
WBA dominated by bulls lifting the market higher throughout the day
WBA pushes through 50-day moving average
WBA unable to break through key resistance level
WBA closes higher for the 3rd day in a row

Overview

Moving higher for the 3rd day in a row, WBA finished the week 2.95% higher at 65.17 after gaining $1.29 (2.02%) today. Today's closing price of 65.17 marks the highest close since June 27th. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily Candlestick Chart (WBA as at Jul 13, 2018):

Daily technical analysis candlestick chart for Walgreens Boots Alliance Inc. (WBA) as at Jul 13, 2018

Friday's trading range was $1.57 (2.45%), that's slightly below last trading month's daily average range of $1.57. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Breaking through the key resistance level at 63.99 today, it is now likely to act as support going forward. Unable to break through the key technical resistance level at 65.42, the stock closed below it after spiking as high as 65.52 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move above 65.43 in the prior session, Walgreens Boots ran into sellers again around the same price level today, failing to move higher than 65.52. After spiking up to 65.52 during the day, the share found resistance at the 100-day moving average at 65.36.

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The market managed to break above the 50-day moving average at 63.92 today for the first time since June 19th.


Market Conditions for WBA as at Jul 13, 2018

Loading Market Conditions for WBA (Walgreens Boots Alliance Inc.)...
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