Leading pharmacy retailer, Walgreens Boots Alliance Inc (WBA), is under some selling pressure today. The popular pharmacy retailer stock is trading lower by 1.90% to $48.29 a share. Walgreens Boots Alliance Inc (WBA) stock is now trading below its important 50 and 200-day moving averages. This puts the stock in a very weak technical position on the charts. It will often indicate lower share prices are ahead in the near term.
The next major chart support level for Walgreens Boots Alliance Inc (WBA) stock will be around the $43.50 area. This key level is where the stock broke out to the upside in early January 2021. Often, prior breakout levels will be defended by the institutional crowd at prior breakout levels. There is also a major retrace support level just below the $43.00 area adding to the strength of the support level.
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