Upside For Westpac

This story features WESTPAC BANKING CORPORATION. For more info SHARE ANALYSIS: WBC

By Nick Linton-Ffrost

Last week's break above 34.25 implies a move towards 36.00 for Westpac ((WBC)) over the next 3-4 weeks once the line break is confirmed.

Before opening longs we recommend waiting for a higher low to form above 34.00. Such a move should confirm the line break and provide enough edge on the trade.

A few days trading below 34.00 negates our view.

Trading tactics

Wait for buy signals between 34.00 and 34.50 over the next week.

Another trading idea from

Fifth Wave | fwtc.com.au                                               

FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience.

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