Westpac Banking Corp: turning down |
39 is our pivot point. Our preference: as long as 39 is resistance, likely decline to 32.4. Alternative scenario: above 39, look for a bounce to 41. Comment: The daily technical indicators are bearish and do not show any reversal signs. |
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Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced |
In order to leverage this directional view we have selected the following product | ||||||||||
ASX Code | Type | Strike | Stop Loss Trigger Level | Required Number | Current Share Price | Gearing | Approx Value | % from Stop Loss | ||
WBCQOS | MINI Short | 42.16 | 40.1 | 1 | 37.4 | 88.71% | $4.76 | 7.22% |