Western Union Right in the Sweet Buying Spot
Western Union (WU) stocks have been in a stable uptrend since March 15, 2023. Each time prices hit the trend's support line, they bounced back, a pattern observed seven times in the past seven months. Following each bounce, the price increased by 10-15% within 2-3 months, reaching at least the middle of the ascending channel.
Currently, another buying opportunity has emerged as prices dipped slightly below the uptrend's support. The suggested entry point for a long trade is between $12.50 and $13.00, targeting a price of $15.00, which is 17% above the entry point. A stop-loss order is recommended at $10.60, below the lows seen last October.
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