WBC 2.46% $28.98 westpac banking corporation

chart update, page-7

  1. 2,089 Posts.
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    WBC has impulsed up since beginning of August, but does appear to have double-topped recently. I see UBS have a buy rating (their report posted 21/8) because of:
    �� WBC announces $1.1b NPAT for 3Q09, flat on 2Q09
    �� BDD trends not deteriorating as quickly as feared
    �� Capital position more solid than first appears
    �� Valuation – EPS upgraded 5%/12%/7% (FY09/10/11E). Buy. PT $26.00

    If the market breadth indicators mean anything then I guess support will be tested some time soon

    WBC Daily chart:


    WBC 2 hour chart:





 
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