Stock traders who look to buy stocks should check out Walgreen stock. Technical analysis of the WAG stock charts reveal a 3-year long uptrend that has now pulled back to the long-term moving average. Trading Walgreen stock was rather indifferent as of lately, since millions of WAG shares have changed hands over the last weeks without a note-worthy price move. That is about to change according to the following stock analysis.
Is it time for a stock trader to include Walgreen stock in his watch list? Online stock trading is all about entering and exiting at the right moment and at the right price and WAG stock chart shows a couple of remarkable entry and exit points, both at the weekly and the monthly chart. Besides, Jenifer had already spotted Walgreen stock 5 months ago here in Trading Graphs. Beginning with the WAG monthly stock chart, the uptrend that began in 2009 is looking ready to resume after a prolonged inactivity period. The stock price has reverted back to the moving average, verifying at the same time the uptrend line. There are no signals for a reversal regarding RSI, MACD or ATR indicators and following the trend sounds reasonable at this time.
A significant support level is easily identified at $32 price range. The weekly stock chart provides the necessary information to point out that level, as the WAG stock has previously met resistance at $32 in April 2011. Meanwhile the fast moving average is trending upwards in the MACD sub graph, as well as RSI, indicating a possible reversal after summer’s downtrend. Finally strong reversal candlestick patterns is apparent at the daily chart since November.
If you are a fan of online stock trading and looking to buy stocks, maybe it’s worthwhile to keep an eye on WAG stock the following weeks for an imminent strong developing uptrend.