Jim Cramer told Mad Money viewers Friday night what stocks he was watching closely this week. This Thursday Cramer noted that we'll get earnings from Walgreens Boots Alliance Inc. (WBA) and the company needs to share its plan for growth.
Let's check out the charts.
In the updated daily bar chart of WBA, below we can see that prices have been in a downtrend the past 11 months. WBA is trading just below the declining 50-day moving average line and just below the declining 200-day moving average line.
The On-Balance-Volume (OBV) line has spent much of the last year in a downtrend telling us that sellers of WBA have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator has spent much of the last year below the zero line where it is now.