MichaelGLamothe

WAL nearing breakout from 1st stage cup w/ high handle

NYSE:WAL   Western Alliance Bancorporation
1
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

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.