Pavan Sharma

Global markets continued to sell-off on Friday (S&P 500 Index -1.1%) and the US market has now recorded 3 consecutive weeks of declines (which we didn’t even see in February or March).

Global markets were lower overnight as US stocks fell (US S&P 500 index -0.8%) and Treasuries gained as investors mulled whether the levels of stimulus being provided is enough amid a gradual economic recovery.

WBC looks interesting at these levels as the chart seems to be set for expansion from here. The stock retreated from its recent peak at $20.07 on 12th August to form a trough on 11th September touching $18.30.

The stock was trading at $1.75 at the time of research and we feel confident to reiterate a HIgh-Risk BUY at this level. While most short-term indicators are showing a Sell indication, we are taking a medium-term outlook around a recovery.

Global markets were mixed overnight (S&P 500 Index -0.5%) reversing gains late in the day as losses in technology shares outweighed a Federal Reserve statement that initially stoked optimism as Chairman Powell said the Fed would keep US interest rates nea

Global markets were higher overnight (S&P 500 Index +0.5%) as investors await the latest US Federal Reserve announcement, with hopes it will stick with its supportive policy stance as the central bank’s two-day meeting got under way.