Chart on WAG???

[rrezac]

Hi, I don't really understand the chart analysis you guys post but would be interested to see what your thoughts are on Walgreens (WAG). I think they will post big numbers at the end of their fiscal year (Aug 31st). I also think the new Medicare Part D will benefit the company once the plan gets up and rolling. Any thoughts are welcome.

[Runner]

I see 2nd degree target on WAG was hit @ 48.26. This tgt was plotted off the 41.46 bottom on a daily chart. Nice uptrend on this stock since the 41 area. I myself would not open a new long position on this stock at this time. I also see an 80 band reject on the STO. I would be looking for a 50 band retest or slip back down to the 20 band.

[Runner]

WAG update

[rrezac]

Runner...thanks for your input and charts. How do I learn more about chart analysis? I mean the really basic, remedial chart analysis? hahaha

[diogenes]

You might find this link:

http://www.stockcharts.com/education/

worthwhile.

[Runner]

You might find this link:

http://www.stockcharts.com/education/

worthwhile.

Very good link and I suggest people to read it then study it and play with charts until you get a feel for things.

[Runner]

WAG falls down today. Now lets see in the 50dma will bring some bulls off the fence? I doubt it, but we shall see

[Runner]

WAG appears to have put in a Market structure low yesterday @ 46.30. Little bounce of the 50dma.