WBC Holders,
Lets hope this is the beginning of a sustained run up.
Chart 1 below:
Looks at WBC trading from around Feb 20 - Just before Pandemic crash.
The blue vertical lines are patterns when WBC moves up. History has a habit of repeating itself. Hence if history were to repeat itself, this run would get us to around the 23.50ish range
Chart 2 below
Close up chart - past 6 months
The fib levels suggest that the 38.2 % level is at 22.50. The 50% level is at 23.25.Most indicators are turning up - very positive
Broker Coverage - from FNArena - worth the subscription
UBS started coverage at $25, Citi was always at $27, Macquarie is a bit downbeat around $23. - The others are yet to update their data
Shorts
As of 28th January 1.13% of all shares were short - implying 41 million odd shares are short. The shorts covered some amounts today, and my gut feel there will be a few days that they will cover their positions.
Based on the above, in my opinion, the market will re rate westpac to around the 23-23.50 mark. Hope for the best
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Last
$28.98 |
Change
-0.730(2.46%) |
Mkt cap ! $100.2B |
Open | High | Low | Value | Volume |
$29.14 | $29.17 | $28.76 | $225.7M | 7.798M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1732 | $28.92 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$28.99 | 54287 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 310 | 28.910 |
1 | 34 | 28.830 |
1 | 34 | 28.820 |
3 | 3350 | 28.800 |
1 | 2000 | 28.780 |
Price($) | Vol. | No. |
---|---|---|
28.990 | 500 | 1 |
29.000 | 16841 | 8 |
29.070 | 2631 | 2 |
29.100 | 18000 | 2 |
29.150 | 2120 | 1 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
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