Walgreens Tumbles After Earnings, Here's The Trade
InTheMoneyStocks.com | Apr 02, 2019 03:15PM ET
Pharmacy and well-being retail store operator Walgreens Boots Alliance (NASDAQ:WBA) fell sharply after reporting earnings. The stock traded lower by more than 12.0 percent to $55.71 a share. Traders should note that WBA has been in a down-trend since December 2018, trading below all of its major weekly moving averages.h3 Support/h3
The next important support level on the chart is around $50. That's where the stock should have some solid support. This support area would be where the stock broke out of a sideways base in September 2013. There is also a major retrace level and other important major moving averages around this key area. This level should be defended by the institutional crowd when retested.
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