This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Must-See Charts to Trade in April

Westpac Banking

A more conspicuous bullish setup is taking shape in shares of Australian banking giant Westpac Banking (WBK). Westpac has been no slouch over the last six months and change, rallying more than 26% since late October -- but it's the price pattern forming in shares now that bodes paying closer attention to.

Westpac spent the last couple of months consolidating sideways in an ascending triangle pattern, a bullish setup that signaled a buy on the move above $164. The ascending triangle is formed by a horizontal resistance level above shares (at that $164 level) and uptrending support below; as shares bounced in between those two technically important price levels, WBC was getting squeezed closer and closer to a breakout. That breakout happened this week.

Now WBC is signaling buy. Shares have confirmed the move through $164 without moving excessively far through it, which makes this an attractive entry point in the stock. While there is an abundance of gaps in WBC right now, they're suspension gaps caused by this stock's overnight trading on the Australian Securities Exchange. They're technically irrelevant.

If you decide to be a buyer here, I'd recommend keeping a stop at the 50-day moving average.
4 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
AAPL $93.99 0.00%
LVNTA $35.50 0.00%
SPY $186.63 0.00%
WBK $20.29 0.00%
XOM $81.03 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs