WBA trade ideas
WBA LogWBA broke above the CDC Trailing Stop, the Volatility Stop and the Slingshot program.
Also bouncing off 50 MA
First Target: Expect a move resistance at $63
Second Target: 161% Fib at 69.
WBA Multi Time Frame Analysis Weekly Low Price At Solid Support Check Out The video Let Me Know Your Thoughts
WBA - DAILY CHARTHi, today we are going to talk about Walgreens and its current landscape.
The opioid crisis has been plaguing the U.S at the most for nearly two years now. With scary numbers like the record of 47,600* overdose deaths caused by opioids in 2017 but the number seems to start slowdown since 2018 were the war against opioids gained some traction.
In the justice field, some companies have already faced some sort of rebuke for involvement and even a bit of responsibility for the opioid crisis. For example
*Jun 2019, Insys Therapeutics Inc. had to file for bankruptcy after being convicted for conspiring to bribe doctors to increase opioid sales, ending up in a deal with the federal government of $225 million.
* Aug 2019, Johnson & Johnson was obligated to pay $572 Million, as Oklahoma ruled that the company intentionally played down the dangers and oversold the benefits of opioids.
* Oct 2019, Johnson & Johnson was once more condemned by two counties of Ohio to pay $20.4 million, with the accusation of having helped the opioid crisis to spread.
* Nov 2019, New York Federal Prosecutors opened a criminal investigation over six companies ( Teva Pharmaceutical Industries Ltd, Mallinckrodt, Johnson & Johnson, Amneal Pharmaceuticals Inc. AmerisourceBergen Corp., and McKesson Corp. to see if they intentionally allowed opioid painkillers to flood communities.
Now, the State of Michigan has sued four companies over the deadly painkiller epidemic as drug dealers. The Attorney General Dana Nessel filed a lawsuit against Walgreens, which could lead to unknown sanctions and liabilities for the company in Michigan, and possible further problems since its the first time. The war against opioids it's just poised to grow up as every justice department across the country and every candidate that it's next to run on elections its eager to hang this trophy on the wall.
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*Source: Centers for Disease Control and Prevention ( CDC )
WBA Buy Zone Opportunities2 decent buy zones on WBA. Top zone looking for a bounce with the lower area looking for a much longer timeframe move to the upside.
WBA Walgreens Boots Alliance, Inc. LONG Empresa con 9277 Farmacias distribuidas en 50 estados de EEUU.
Inst Own 63.3%
Market Cap 55.03 B
WBA - Testing Gap ResistanceWBA gapped down at the beginning of April due to an earnings report. The price continued to fall until the end of May, failed when it hit gap resistance in mid-July, & fell again creating a double-bottom at the end of August. Price has continued to fail when attempting to fill the gap but recent price drops have created an ascending triangle pattern. I'm looking for the gap to be filled at some point in the near future.
Should Be A Good Week For WalgreensAlthough WBA looked to be failing this Inversed Head and Shoulders, it became apparent that the pullback was solely due to a news based market reversal. Now it has a market in uptrend once again, a bullish pattern breakout, and an earnings increase in it's sales, and so should have a very good week ahead.
[ALGO TRADE] WBA ShortMissed this trade due timing to buy the stock but would have placed positions as such. Let's see if it hits TP
A long-term base and short-term breakout bode well for Walgreens
Walgreens Boots has been basing since April with a Double Bottom form ing from May to August. The stock exceeded the intermittent high, but this breakout did not hold as WAG fell back with a bull flag. The bull flag breakout reversed the short-term downtrend in mid October and WAG is again challenging resistance. I expect a breakout from this large base and would target a move to the lows 60s. A close below 53 would call for a re-evaluation.
WBA ER: From Chart, it will be UPjust try to use my toy to forecast the WBA ER,
let see if it works, verify it on Monday Market OPEN
$WBA The Bottom is in for Walgreens BootsEntry level $56.00 = Target price $67.00 = Stop loss $54.00
Technical indicators are bullish as is the volume profile.
Expectations are very low.
Trading at a very low 10.02 P/E ratio
Company profile
Walgreens Boots Alliance, Inc. engages in the provision of drug store services. The company operates through the following segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment engages in pharmacy-led health and beauty retail businesses, which sells its products under brand names Walgreens and Duane Reade. The Retail Pharmacy International segment offers retail stores, which sells products of brands No7, Boots Pharmaceuticals, Botanics, Liz Earle, and Soap & Glory. The Pharmaceutical Wholesale segment supplies medicines, other healthcare products and related services to pharmacies, doctors, health centers, and hospitals. The company was founded in 1901 and is headquartered in Deerfield, IL.
WBA: Anatomy of a Take Down Using Wyckoffian LogicPrice movement after possible selling climax looks weak. Maybe further mark-down or market makers looking to accumulate remaining supply before mark-up?
WBA Option bearish strategies Tomorrow at the opening of the market place bearish strategy for at least 60 days.
look for ATM and leaved it open until profit! If the prices raised around 2$ buy it back
Walgreens Boots Alliance Stop Heartburn Sales Over Cancer LinkCVS Health Corp (NYSE: CVS ), Walgreens Boots Alliance Inc . (NASDAQ: WBA ) and Rite Aid Corporation (NYSE: RAD) had mixed fortunes in the market. This is after announcing they will no longer sell a heartburn medication suspected of containing a cancer-causing substance. Zantac is the heartburn medication on the spotlight on the Food and Drug Administration, raising the red flag.
Zantac Cancer Links
The FDA in a press release has warned that the drug could contain low levels of nitrosamine, an impurity categorized as a human carcinogen. CVS Health stock was up 1.59% while Walgreens stock rallied 1.65% and Rite Aid plunged 4.53% after announcing the withdrawal of Zantac from shelves.
Rite Aid has confirmed it is in the process of removing the drug from its shelves as well as other generic version sold under its brand name. Walgreens and CVS have since confirmed that customers would purchase Zantac can return the medication for a refund. However, the companies insist the FDA has not recalled the drug.
Novartis AG (NYSE: NVS ) is another pharmaceutical company dragged into the ranitidine standoff. The company has also stopped selling a prescription form of ranitidine as it awaits the FDA’s ongoing investigation. GlaxoSmithKline plc . (NYSE: GSK ) has also stopped the distribution of a generic version of the drug.
Sanofi SA (NASDAQ: SNY ), which is the company behind Zantac, was up 0.15% even as the giant pharmaceutical companies announced they would no longer sell the drug. The drugmaker, in its defense, maintains that the levels of contaminants found by the FDA barely exceed the levels found in foods .
The environmental contaminant is mostly found in water and foods as well as meats and dairy products. In high levels, the contaminant can trigger tumors in the liver as well as other organs. In humans, they can lead to cancer.
FDA Ranitidine And Zantac Probe
The FDA is currently investigating a number of ranitidine drugs as well as Zantac on concerns that they contain high levels of nitrosamine impurity that can trigger cancer cells in the human body. The agency is also investigating the possible cause of contamination as well as the potential risk of the impurity to patients.
However, the agency is yet to issue an order prohibiting the sale of Zantac drug. Sales suspension by the pharmaceutical giants is thus a precautionary measure awaiting the outcome of the ongoing trials by the agency.
“The FDA is not calling for individuals to stop taking ranitidine at this time; however, patients taking prescription ranitidine who wish to discontinue use should talk to their health care professional about other treatment options,” FDA in a statement.
Instead of taking Zantac and other OTC ranitidine, the FDC is urging people to take other OTC approved medicines for their conditions.
The European Medicines Agency has already joined the FDA in reviewing the drug. Canada, on its part, has stopped the sale of all ranitidine drugs awaiting the ongoing investigations.
WHAT IS WALGREENS ABOOTS ALLIANCE - 1D RANGE TRADESRanges, Descending Triangles, Triangles, and Ascending Triangle are repeatable trading chart patterns.
Ranges and Triangles are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
$WBA Walgreens lagging $WMT WalmartI am looking at the divergence in performance of the two "WAL" retail stocks, Walmart and Walgreens.
$WMT has rebounded sharply from the two selloffs in 2018 while $WBA has been in a sharp dive since late 2018. The two are about as far enough apart in performance to set up a trade to bring the two back together.
$WBA reports earnings on the 27th in just 2 days, that could be a catalyst.
Tim 11:10AM EST 6/25/2019
