Western Union Is Going for a Rebound
After a decline from April through June, with prices dipping by 12.7% to $12.16 per share, Western Union (WU) stocks have started to rebound, reaching $12.83 by the end of July. They have also charted a Head and Shoulders pattern, indicating potential upside.
Weak financial performance in Q2 2024 has already been priced in, with Wall Street expecting Q2 EPS to drop by 13.7% YoY and revenues to tumble by 9.4% YoY. This suggests that the stock is unlikely to decline further. If WU's financial performance meets or exceeds consensus expectations, prices could continue to rise in August.
There is a 16.5% upside potential, targeting $14.00-15.00 per share, with a secure stop loss placed at $10.70.
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