Good Buy Opportunities for Western Union
Western Union (WU) stock has been in a downtrend since March 12, 2024, declining by 26.0% to $10.60. This is precisely the level where prices began recovering in March 2023, rallying by 23.0% afterward.
Currently, prices are breaking out of the downtrend, forming a symmetrical triangle pattern—typically a sign of building momentum. Given several technical factors, an upside breakout appears more likely.
I am considering opening a long position at $10.40–10.70, targeting $12.40–12.70, where a price gap from July 31, 2024, remains unfilled. This gap should be closed. A stop-loss would be set at $8.60.
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