Red day on Thursday for Walgreens Boots Alliance stock after losing 0.781%
(Updated on Dec 01, 2022)
The Walgreens Boots Alliance stock price fell by -0.781% on the last day (Thursday, 1st Dec 2022) from $41.62 to $41.29. During the last trading day the stock fluctuated 2.35% from a day low at $41.06 to a day high of $42.03. The price has been going up and down for this period, and there has been a 2.3% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -606 thousand shares and in total, 2 million shares were bought and sold for approximately $95.19 million.
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The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $42.40 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 23.28% during the next 3 months and, with a 90% probability hold a price between $43.67 and $52.27 at the end of this 3-month period.
WBA Signals & Forecast
The Walgreens Boots Alliance stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $41.39. On a fall, the stock will find some support from the long-term average at approximately $37.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, November 23, 2022, and so far it has fallen -1.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Walgreens Boots Alliance stock
On the downside, the stock finds support just below today's level from accumulated volume at $33.65 and $33.39. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Walgreens Boots Alliance finds support just below today's level at $33.65. If this is broken, then the next support from accumulated volume will be at $33.39 and $32.43.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.96 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $39.63 (-4.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (WBA) For The Upcoming Trading Day Of Friday 2nd
For the upcoming trading day on Friday, 2nd we expect Walgreens Boots Alliance to open at $41.46, and during the day (based on 14 day Average True Range), to move between $40.20 and $42.38, which gives a possible trading interval of +/-$1.09 (+/-2.65%) up or down from last closing price. If Walgreens Boots Alliance takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.46 (0.41%) than the support at $33.65 (18.50%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Walgreens Boots Alliance stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Walgreens Boots Alliance stock to perform well in the short-term.
Current score: 2.858 Open Broker AccountBuy Candidate Unchanged
Predicted Opening Price for Walgreens Boots Alliance of Friday, December 2, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 2, 2022||Current price|
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About Walgreens Boots Alliance
Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and beauty retail company. It operates through two segments, the United States and International. The United States segment sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores. It also provides central specialty pharmacy services and mail services.... WBA Profile
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