WBC – Westpac Banking Corporation

These extracts from my trading diary are for educational purposes only and should not be interpreted as investment or trading advice: Terms of use

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Code:

Company Name:

Sector:

Size:

 Confirmed Trend:
 

WBC

  

Westpac Banking Corporation

  

Banks / Financials

  

ASX Top 20

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Commentary:

Westpac Bank has resumed its medium term up trend, closing above the previous peak at $26.17.  The up trend would be considered wrong with a close below $24.00 – half way between the recent continuation pattern.

Using  Dow Theory combined with a close above the 12th weekly bar (after a protracted down trend to avoid whipsaws), WBC has a brilliant 76% win percentage, and a 3 to 1 profit to loss ratio.

Click the chart below to enlarge:

Previous Trend Changes:

    – November 2009, Dow Theory Exit at $24.15

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February 4, 2010  Tags: , , , , , , ,   Posted in: Research On Australian Stock Trends

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