Westpac May Have Peaked

Westpac (WBK or WBC.AX), a large Australian money-center bank, has made lots of money for its investors in the past ten years. The four upside phases on its chart show the steady progression of price increases.

But the phase four upside is quite steep and the stock may have peaked. Click on the chart and see the possible downside (dashed red line) price path with support around $110.

Steep upsides do not last too long and this one may be over.

Related Articles:

Money Center Banks Stocks Pay Good Dividends
Portfolio of Regional Banks
Price Upsides Often Occur in Three Stages

Posted November 19, 2007.