Walgreens Boots Alliance exposed to a free fall - Analysis - 01-07-2022

2022-07-01 11:29:49 GMT (Economies.com)
 

Walgreens Boots Alliance's stock (WBA) skidded after the company expected lower quarterly profits in the fourth quarter compared to last year, with the stock tumbling 7.27% in the last session, or 2.97 points, and settling at 37.90, with trading volumes surpassing 15.6 million shares, above 10-day averages of 8.2 million shares. 

 

The stock pierced the current support of 39.72, amid the dominance of the downward short-term trend, coupled with negative pressure from the 50-day SMA, and negative signals from the RSI after reaching overbought levels. 

 

Therefore we expect more losses for the stock, targeting the first support at 36.65, provided it settles below 39.72. 

 

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Expected trend for today: Bearish 

 
 
 
  Symbol Last Change Chg.%
1.0170
-0.0049
0.4815%
1.2105
0.0000
0.0037%
20.083
-0.168
0.830%
86.611
-0.650
0.745%
92.34
-2.76
2.90%
1774.580
-7.105
0.399%
 
 
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