Westpac Banking Corporation (WBC.AX)
Trading: SELL @ $26.42
Signal Strength: STRONG
Indicator CAN BE USED in additional to another technical indicator to confirmation for trading position. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Westpac Banking Corporation (ASX:WBC) has formed a new Bear Harami reversal pattern.
This pattern consists of a white body and a small black body that is completely inside the range of the white body. If an outline is drawn for the pattern it looks like a pregnant woman. This is not a coincidence. “Harami” is an old Japanese word for “pregnant”. The white candlestick is “the mother” and the small candlestick is “the baby”.
Calculation: Bear Harami Candlestick Pattern:
1) The market is characterized by a prevailing uptrend;
2) A white body is observed on the first day;
3) The black body that is formed on the second day is completely engulfed by the body of the first day;
PROFILE: Westpac Banking Corporation (WBC.AX)
Stock Exchange: ASX
Company: Westpac Banking Corporation
Ticker Codes: | WBC.AX | ASX:WBC |
Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region, and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank, and Westpac New Zealand. It offers everyday banking, savings, term deposit, moving to Australia, under 21 and student, business, community solutions one, not-for-profit savings, and foreign currency accounts; term, tailor-made, and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, and insurance premium financing services. It also provides home and content, landlord, car, travel, boat, caravan and trailer, life, credit card and loan repayment, income protection, business, farm pack, person income, and business overheads insurance products; superannuation and retirement products; investment portfolios; installment warrants; and trading, financial advisory, wealth, foreign currency exchange, international payment, cash flow management, international trade, and import and export services. In addition, it offers industry specific banking and treasury services; other services, such as emergency cash, online and telephone banking, ATMs, unclaimed money, travel center, margin lending, and banking services to migrants moving to Australia; and mobile wallets. Further, it provides capital advisory and fund management, transactional and private banking, and financial market services; and corporate and structured finance, as well as trade and supply chain finance. It serves individuals; micro, small, and medium enterprises; and commercial, corporate, institutional, and government customers. The company was formerly known as Bank of New South Wales and changed its name to Westpac Banking Corporation in October 1982. The company was founded in 1817 and is headquartered in Sydney, Australia.
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