Walgreens bolsters gains - Analysis - 14-11-2022

Economies.com
2022-11-14 12:01PM UTC

Walgreens Boots Alliance's stock (WBA) rose in the intraday levels after Deutsche Bank upgraded the stock's rating to buy from wait, sending it 7.2% higher, or 2.77 points, and settling at 41.26, with trading volumes surpassing 13 million shares, above 10-day averages of 8.5 million shares.

 

Technically, the stock is hurt by exiting a descending price channel that guided recent short-term trading, while buoyed by trading above the 50-day SMA, and hurt by negative signals from the  RSI after reaching overbought levels. 

 

Therefore we expect more gains for the stock, targeting the resistance of 47.28, if the initial resistance of 42.10 was breached. 

 

Expected trend for today: Bullish

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