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WBC trade ideas

WBC short term longI'm no charting expert however this seems glaringly obvious. Formation of a triangle squeezing price for the next bar or two and there should be some movement, in this case I'm predicting movement upwards. Keep an eye on volume, if there is more than avg volume it solidifies the upward trend in the short term. Disclaimer: I entered approx Nov 2022 at AUD 24 and am looking to recoup my cost. Macro view: I expect RBA to keep interest rates high (maybe one more rise) for the coming 2024-2025, which does not bid well for the banking sector
ASX:WBCLong
by Stevethepirte
3
Strong result and reasonable valuation Westpac shares bucked the trend amongst its banking peers rising after revealing its half-year result for the first half of the 2023 financial year. Cash earnings came in at $4,001m which rose +22% from last year benefiting from higher interest rates and making progress to become a simpler, stronger bank with disciplined cost and margin management providing $1 billion of in cost savings. Interim dividend came in at 70 cents per share, up +15% from last year, and a 61% payout ratio to further strengthen their balance sheet. We welcome Westpac’s result which was in-line with market expectations and with a conservative view anticipate loan business and margins to tighten slightly given the slowdown in the housing market due to rising interest rates. Westpac as still trades at a reasonable multiple compared to other big four banks’ forecasted to pay out a 6.5% dividend (taking a prudent approach of assuming no dividend growth from here). Read more at: research.blackbull.com
ASX:WBC
by BlackBull_Markets
Shares - ASX200 - Westpac WBC Descending Triangle SHORTASX 200 - Westpac descending triangle breakout. High probably pattern. Target is set at 21.60. STO is low so entry price between 22.60 and 22.90. Expect levels around the 20.60 level as a take profit. Volume: pretty low showing lack of support. RSI: The new low has been confirmed by a new RSI low of 34. STO: STO is low so it may be possible to enter a little higher just below 23. Current Price: 22.63 Target 1: 21.60 Stop Loss: 23.90
ASX:WBCShort
by thecryptochart
Westpac BankStrong Buy - On the move a quick 10% coming up if you ask me. Same as ANZ Oil on a tare so support Financial Sector Banks love Oil. Earnings have been declining over the last 5yrs if that matters in the share market world often doesn't so just buy what's on the move, still makes 2 Billion a year, I don't think they're going anywhere. See below for various details. Market Screener: ...... Buy Investing.com: ......... Buy EMA - Trade: ............ Buy Mv Ave -Trade: ......... Buy Macd - Trade: ........... Buy Volume > Yest: ......... Buy Rsi > 55 < 88: ........... Buy I ntrinsic Val Ann: ....... Buy Intrinsic Val TTM: ...... Buy Total 9 Out of 9 :…..... Buy Fundamentals Score: 53% … Good 9 out of 17 data points pass $1000 invested Roi Mv Ave: Brought on Feb 09.... $18.03 Macd: Brought on Feb 10....... $9.95 Rsi : 73% ....(Caution at 80%): Volatility Index: 0.00% ....Currently Neutral Signal Next Event: FY 2021 2021 Earnings Release Date: Monday, 1 November 2021 Days Away: 259 Income last 5 years (ttm) B : $2,290,000,000.00 2020: B : $2,290,000,000.00 2019: B : $6,784,000,000.00 2018: B : $8,095,000,000.00 2017: B : $7,990,000,000.00 2016: B : $7,445,000,000.00 Revenue Growth Rate (5Y): …. -3.48% Net Profit Margin (ttm): …. 11.24% Dividend Yield Prev Yrly % Return: …. 1.44% Forward Annual Dividend Yield: …... 1.39% Recent Announcements: Redemption Notice for Westpac Capital Notes 3 15/2/2021, 10:06 am GENERAL - Appendix 3G 15/2/2021, 8:30 am OFFER - News Thursday, 4 February 2021 Westpac Banking Corporation has today announced the appointment of Dr Nora Scheinkestel as an independent Non-executive Director with effect from 1 March 2021. Westpac has also announced that Craig Dunn intends to retire from the Board Description Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, and internationally. The company operates through four divisions: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist Businesses, and Group Businesses. It offers everyday banking, savings, term deposit, business transaction, foreign currency, and specialized accounts; home, personal, and business loans; credit cards; international and travel services; share trading services; investment; and home, car, travel, life, and business insurance products. The company also provides merchant and payment, corporate and institutional, transaction banking, financial market, corporate and structured finance, trade and supply chain financing, and industry specific banking and treasury services, as well as online banking services. It serves individuals; micro, small, and medium enterprises; commercial business and private wealth clients; and commercial, corporate, institutional, and government customers. The company was formerly known as Bank of New South Wales and changed its name to Westpac Banking Corporation in October 1982. The company was founded in 1817 and is headquartered in Sydney, Australia. Hope this was helpful and helps make you money : )
NZX:WBCLong
by NZ_Shareman
Westpack (WBC) shares break major resistance at 18.40Share prices continued its advancement in today's session with a price gap in the opening trades after a breakthrough in last week's session crossing over two major resistance levels at 17.14 and 17.61 as shown on the 30 minutes price chart. Share prices need to remain above 18.40 to reach its next target at 19.16. The current critical support and resistance estimates on the price chart are based on my indicator which predicts future price movements based on price action. Major support estimates - 18.40, 17.60, 17.14, 16.37, and 15.90 Major resistance estimates - 19.16, 19.93, and 20.70
ASX:WBC
by Rotuma
WBC 2020-JUL-08WBC has not had a great 12 months; but the trend is overwhelmingly positive. The long term spot price movement has a 98% fit to the mean when taken in log10; and the absolute majority of the price action remained within +/- 2 deviations from the mean. The 1993 recession caused the price to break below the -2 SD bound; as has the COVID19 event more recently. This latest movement pushed almost to -5 deviations; which statistically is an anomaly event given how much previous data we have to demonstrate the strength of the trend. Financially, the numbers still stack up as well, with GDP related impacts being felt across the board not just within financials districts. The risk of a return to the local low remains possible while the economic outlook is constrained, so a position here should reflect the risk of a >20% price decline; though the upside back to the mean is substantial and from an RR perspective does far outweigh the risk. Personal portfolio management will still need to be applied.
ASX:WBCLong
by Moon_Rocket_Capital
2