Does Walgreen Have the Potential for New Highs?
C = Catalyst for a Stock’s Movement
Walgreen is one of the top operators of a network of drugstores in the United States. It provides health and wellness goods and services as well as a pharmacy. Health will always be near the top of the list of priorities for Americans, because most people care about their well-being. That being said, Walgreen is well-positioned to provide the support people need during times of need or times when convenience is the deciding factor. Look for Walgreen to continue to make headway as consumers become increasingly health conscious.
T = Technicals on the Stock Chart are Strong
Walgreen’s long term price chart shows the stock as being in a strong range for more than 10 years. After a monstrous run in the 1990s, Walgreen has seen selling pressure in the $50 area and buying support in the $25 area. After obvious lows in 2008, the stock has displayed a pattern of higher highs and higher lows, with its next target looking like could be in the vicinity of previous all-time highs near $52. Let’s take a look at the current trends in Walgreen’s stock…