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- 1 WBA stock price declined to close at a 14-year low price.
- 2 Walgreens Boots Alliance Inc.’s price slumped 7.4% in an Intraday session on Friday.
- 3 WBA stock crashed after the news about the CEO Rosalind Brewer stepping down in just two and half years of taking the position, came out.
Walgreens Boots Alliance Inc. (WBA stock) company made an unexpected announcement on Friday regarding the departure of Rosalind Brewer from her position as chief executive officer. She assumed her role in March 2021, making her brief tenure less than 3 years.
During her leadership, the WBA company’s stock experienced a decline of nearly 25%. However, the stock has been in a continuous decline since 2015. The stock tumbled 15.6% in August, showing its biggest monthly decline after 19.3% in December 2018.
The daily chart shows that the stock has been declining steadily sliding below the key moving averages. The key moving average, 50 EMA, is acting as resistance to the declining price as the price has suffered multiple rejections and slid down.
The Analysts offering a 1-year price forecast for Walgreens Boots Alliance Inc. have a max estimate of $41 and a minimum estimate of $26. Walgreens Boots Alliance Inc. engages in the provision of retail pharmacy and healthcare services. The company operates in the US and Internationally. Headquartered in Deerfield, IL the company was founded in 1901.
WBA stock option-chain analysis states that the current implied volatility in the market is 30.19% with an increment of 3.94% in the last trading session. The recent support of $24 has an OI of 186 open contracts on the CALL side and 1799 open contracts on the PUT side indicating that the Buyers are in domination at the current level and may try to halt the momentum of decline.
WBA Stock Price In A Free Fall Over The Daily Chart
The WBA stock price currently trades at $23.43 and slumped more than 7% on Friday amid the news of the resignation of the CEO. The WBA daily chart shows that the price may decline more as the stock does not have any major support to the downside at the moment.
Analysts say that the free fall in the price may halt near the $20 level which is the nearest round level. However, it requires more buying to open up at the level to counter the short selling.
The Technical Indicators Showing Weakness On The Chart
The daily WBA stock price chart shows that the price slid below to suffer multiple resistance from the EMA showing the dominance of sellers on the price chart.
Currently, the overall Technical Opinion rating including RSI and MACD is signaling a 100% sell and ranks in the top 1% of all short-term signals.
Conclusion
Walgreens Boots Alliance Inc. (WBA stock) announced the resignation of its CEO Rosalind Brewer, who led the company for less than 3 years. The stock has been falling since 2015 and dropped 7% on Friday to $23.43. The daily chart shows that the stock is below the 50 EMA resistance and may decline further. Analysts have a maximum estimate of $41 and a min estimate of $26 for the stock in a year. The company provides retail pharmacy and healthcare services in the US and internationally.
Technical Levels
- Support levels: $20.3 and $18.07.
- Resistance levels: $26.64 and $29.49.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
