WBC - Price chart analysis
WBC share prices had a reasonable pullback after a three -day rally. Share prices bounced off at 16.70 and have been trading around 17.25 and 17.50 for the last two sessions. I think a break above 17.50 could see share prices head back up to 18.28 - 18.48
There are so many reasons to go long on WBC here.
Just a few:
At this price WBC is massively undervalued.
WBC just broke above its local trend.
WBC pays huge dividends.
Australia has beaten COVID-19.
Get on it doggon it
WBC shares have breached a significant point at 15.33 in today's trades after a long consolidation period at 15.03 and 15.33.
Share prices took off from the opening and crossed over 15.58 in the first hour of trade. Share prices are now approaching another critical point at 15.98 and might retreat to 15.84 and 15.70. 15.84 is an excellent spot to keep an eye for...
I am not a professional, Just a prediction ;) , hoping for a shoot up, it is heavily dependent on how the COVID-19 situation is subsiding in the near future.
westpac bank has been completely gutted buy the covid19 mania.... literally feels like 2002 out here ........... gonna catch a long on this soon but no indication of reversal yet
Westpac getting close to a critical level and if we go below the yellow line,
we could assume that was a dead cat bounce and Westpac is heading back sub $24.
prices back into demand zone, HTF and LTF stacked demands. Both charts have same price structure though WBC is clearest. l'm tending towards buy side although no final confirmation PA yet so standing by. fomo sellers/ stoplosses are triggering , l'm looking for discount buys down here while worlds selling and running for the hills.
Westpac share might head towards the recent lows of 23$. I am not touching it before it bounces and closes above 0.238 fib. As of now the momentum is downwards. I will update again once i see trend reversed.
Westpac shares are expected to face downward pressure in today's opening session following the unsatisfactory 2019 financial results, which saw net profit down by 16%.
Expect to see some challenges at around 27.75, 27.65, and 27.50
