Perhaps a more direct explanation is the USD price of cotton made a 4 year high in mid-June, coinciding with WBA's peak. The cotton price has subsequently drifted down a tad.
There's plenty of support on the chart around $1.50, including the 50-61.8% fibonacci retracement zone (from the 2016-2018 rally).
WBA is a long term hold for me - just ride out these peaks and troughs and expect the strong uptrend from the 2010-2011 bottom t0 keep asserting itself over the long haul. Not to mention the company's strong fundamentals, including a management team that's switched on, smart, ambitious and has loads of skin in the game.
WBA Price at posting:
$1.60 Sentiment: Hold Disclosure: Held
