Walgreens' Bull Channel (Update 5/13)
I've been tracking Walgreens for a few months now (disclosure: I'm long on WBA) and it's been sticking to a fairly nice bull channel for months.
It looked like it was heading up nicely but the markets trashed it over the last few days. On the up side, though, it looks like it 'bottomed out' after the Dow dropped a bunch -- right at the channel low. Today it's recovering nicely, and I'm still bullish on this continuing its trend for at least another cycle.
It looked like it was heading up nicely but the markets trashed it over the last few days. On the up side, though, it looks like it 'bottomed out' after the Dow dropped a bunch -- right at the channel low. Today it's recovering nicely, and I'm still bullish on this continuing its trend for at least another cycle.
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