Not many winners in the Dow Jones Industrials today. WBA is an exception. Shares have been green since the bell as they head for a 3+% gain. Impressive divergent action to say the least. This powerful move is driving the stock well past last week’s high while the $SPX dips below last week’s lows.
The 50 day moving average has provided solid support since early November: https://twitter.com/GarySMorrow/status/1326233878428790785?s=20.
The 50D has held the last two weekly lows.
Daily MACD, which reached overbought levels shortly after the vaccine news in early November, https://twitter.com/GarySMorrow/status/1326233878428790785?s=20, has been completely worked off. MACD begins the new week at neutral.
Will WBA be a leading in the new year? Impressive way to start 2021. We are long in some managed accounts.