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.

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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 Account

Buy Candidate Unchanged

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