Long On Walgreens Shares Following Encouraging Forecast Figures

Walgreens Boots Alliance is due to release its Q3 earnings report before Wednesday’s opening bell. The pharmacy chain is estimated to post revenue of $29.7 billion, compared with a figure of $28.8 billion for the same quarter last year. Additionally, the company’s EPS is expected to tick up 11.8% to $1.14, from  an EPS of $1.02 in Q3 last year. On the hourly chart, RSI (14) is rallying to 57.4208, suggesting that a bullish trend is developing. The parabolics suggest that the stock may gather bullish momentum as the price is above the band. Thus, Walgreen shares are expected to climb for some time.

Trade suggestion

Buy stop at 83.60, Take profit at 83.83, Stop loss at 83.40

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