Breakout the flat-base with the buy point 61.6 with large volume
Most breakouts will retest the breakout level for another opp to buy
On a day where most stocks closed in the red and near their lows, WAL managed to reverse and close in the upper half of its price range. It did this on the highest daily volume in a month. This sets up a potential short term bounce. If WAL can take out today's high of 48 either tomorrow or within the next day or so, and then confirm the move by climbing above...
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...
Not sure which track WAL will take. Neutral
I believe WAL is a Short for a little while then it will clime up this May/June