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Archive
- 7/19/2024 -
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Walgreens (WBA) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Walgreens (WBA). During the week, the WBA dropped -0.49 points, or -4.26%, and closed at 11.01 on Friday, July 19, 2024. Weekly volume was 140% above average.
WBA is a member of Consumer Staples Sector. Consumer Staples is the most oversold sector. WBA is a member of Drug Retail Industry. Drug Retail is the most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See WBA long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 47.28 and reached 10.69 on July 9, 2024. WBA lost 36.59 points, or 77.39%, in 115 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (13.80) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
 Medium-term trend: [See WBA medium-term trend chart]
A medium-term downtrend had started on January 2, 2024 at 27.05 and reached 10.69 on July 9, 2024. WBA lost 16.36 points, or 60.48%, in 27 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 9.74 and resistance is at 12.62. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See WBA weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See WBA short-term trend chart]
A short-term downtrend had started on July 18, 2024 at 12.02 and reached 10.98 on July 19, 2024. WBA lost 1.04 points, or 8.65%, in 1 days. Price is near the trend low.
 Daily Technical Indicators: [See WBA daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The distance between the Bollinger Bands is 232.87% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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