WBC looks oversold
With the rout in the Banks forging a 15% fall from the highs set a month ago there are some interesting developments in the chart.
With the dividends now paid the charts are starting to show some support levels and divergence.
This daily chart of WBC shows the RSI moving sideways while the price continues to fall this divergence suggest the low is close by.
Todays candle has a “higher low and a higher high” in relation to yesterday.
Over the past 14 trading days volume is substantially higher suggesting churning at low.
Positions taken at these levels would have a stop at $32.22