Western Alliance Bancorporation's 15min chart triggers KDJ Golden Cross, Bullish Marubozu signal.

Western Alliance Bancorporation's 15-minute chart has recently exhibited a KDJ Golden Cross and a Bullish Marubozu pattern, as of August 25, 2022, at 12:15. This indicates a shift in momentum towards an upward trend, with potential for further price appreciation. Currently, buyers are dominating the market, which suggests that bullish momentum is likely to persist.

The stock of Western Alliance Bancorporation (WAL) surged by 8.3% in the afternoon session of August 25, 2022, following dovish remarks from Fed Chair Jerome Powell at the Jackson Hole symposium. Powell's comments suggested that the Federal Reserve might consider a shift in its monetary policy stance, including potential interest rate cuts, as inflation risks moderated and unemployment remained low. This outlook eased market concerns about prolonged high interest rates and bolstered investor confidence, particularly in sectors that have lagged.

Among the regional banks, WAL saw a significant 15-minute chart movement, with a KDJ Golden Cross and a Bullish Marubozu pattern indicating a shift in momentum towards an upward trend. This technical analysis suggests potential for further price appreciation. Currently, buyers are dominating the market, which suggests that bullish momentum is likely to persist [1].

WAL's stock price has been volatile, with 15 moves greater than 5% over the last year. The latest move, up 8.3%, indicates that the market considers the recent news meaningful but not a fundamental change in its perception of the business. The previous significant move was 21 days ago when the stock dropped 3.2% due to a weak July jobs report and the announcement of sweeping new tariffs.

Investors who bought $1,000 worth of WAL's shares 5 years ago would now be looking at an investment worth $2,343. Despite the recent surge, WAL is still trading 9.3% below its 52-week high of $96.10 from November 2024.

References:
[1] https://www.tradingview.com/news/stockstory:99ce4d246094b:0-lendingclub-affirm-western-alliance-bancorporation-wesbanco-and-webster-financial-stocks-trade-up-what-you-need-to-know/