Earnings Play: Walgreens Boots Alliance

Walgreens' 3Q earnings release is expected on Thursday. Here is what to look out for.

Stocks (2)

On Thursday, before market, Walgreens Boots Alliance (WBA) is anticipated to report third quarter EPS of $1.17 compared to $1.47 a year ago on revenue of approximately $34.5B vs. $34.6B last year. The company is a global leader in retail and wholesale pharmacy, and on July 8th, Walgreens' and VillageMD announced that Walgreens will be the first pharmacy chain in America to have full-service doctors co-located at 500 to 700 stores nationwide.   

Looking at a daily chart, on Monday, July 6th, Walgreens's stock price broke to the upside of a short-term symmetrical triangle pattern that began to form in early-June. The RSI has been holding around its neutrality area at 50. In mid-June the 20-day moving average crossed above the 50-day moving average for the first time in 2020, a bullish signal. Price made a higher low around $39.50 compared to the low of the year at $36.50. The blue lines on the chart represent a potential measured move from the highest peak to the lowest trough of the symmetrical triangle pattern. Price may continue to rise on a path that could lead it to the $50.50 level. If price reverses and falls below its most recent low of $39.50, then price could likely fall back to its yearly low of $36.50.     



Source: GAIN Capital, TradingView

More from Earnings

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.