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Western Union: breaking the resistance

Western Union: breaking the resistance

Updated

Western Union reports its earnings on Wednesday, at 23:30 MT time, with the expected EPS of $0.42.

Here is the long-term picture. Western Union’s stock hasn’t recovered from the virus hit yet. While it enjoyed the highs of $28 a year ago, it is currently below $24 – that’s just halfway through the losses. However, it may be exactly the reason why it may be an excellent moment to open a position with this stock: with a fundamentally optimistic outlook, it will inevitably reach back to $28, in time.

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In the mid-term, $24 is the nearest target for bulls. That’s where the stock is very likely to be if Western Union manages to outperform the expectations. Otherwise, it may drop to $22 before it gets up again for an upward trajectory.

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