This chart pattern can be seen in a few different ways, all of which are bullish. I see this as a potential inverted head and shoulders, a "VCP" (volatility contraction pattern), and a cup with high handle. For now the cup w/ high handle gives an advanced entry point right at 37.56 This can be played vs the 50dma which it has held since early August.
I like that the RS line has been consistently strengthening vs the S&P 500. This shows that WAL is a potential emerging leader. I also like that volume has recently been building to the upside over the past month
I like that the RS line has been consistently strengthening vs the S&P 500. This shows that WAL is a potential emerging leader. I also like that volume has recently been building to the upside over the past month