RY 139.14 0.5492% TD 75.13 0.4412% SHOP 105.68 3.7502% CNR 172.48 2.0773% ENB 50.14 0.8245% CP 111.43 2.145% BMO 127.18 1.9152% TRI 228.41 1.3714% CNQ 103.87 1.7336% BN 59.7 2.3838% ATD 75.25 0.3467% CSU 3750.01 3.0786% BNS 64.82 1.0759% CM 66.11 0.9159% SU 53.13 1.6648% TRP 51.39 -0.0972% NGT 56.61 1.7434% WCN 227.64 1.3355% MFC 33.42 1.7042% BCE 45.86 -0.2176%

US Technical Analysis Report

One NYSE-Listed Stock Gaining Upside Momentum as Russell 3000 Inched Higher– WAL

Dec 15, 2023

WAL:NYSE
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (US$)

Company Overview: Western Alliance Bancorp (NYSE: WAL) is a diversified financial powerhouse, offering a wide range of traditional and modern banking services to individuals and businesses nationwide. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started positively, and it traded with a positive bias throughout the week. The index made high of 2729.785 during the week and settled at 2719.214 with a week-to-date (WTD) gain of ~2.925 percent on December 14, 2023Other major indices, such as S&P 500 and NASDAQ Composite witnessed upside movement for the week. On December 14, 2023, the S&P 500 index settled at ~4719.54 with a WTD gain of ~2.50 percent, while the NASDAQ Composite Index settled at 14761.559 with a WTD gain of ~2.483 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one NYSE-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Western Alliance Bancorp (NYSE: WAL) for the next 2-4 weeks duration: 

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