Tuesday, April 02, 2019 11:30:58 AM
This morning, leading pharmacy and well-being retail store operator, Walgreens Boots Alliance (NYSE:WBA), is declining sharply after reporting earnings. The stock is trading lower by more than 12.0 percent to $55.71 a share. Traders should note that the stock has been in a down-trend since December 2018 trading below all of its major weekly chart moving averages. The next important support level on the chart will be around the $50.00 area. This is 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.
Nicholas Santiago
InTheMoneyStocks
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