##{"id":58331,"date":"2011-06-21T10:32:24","date_gmt":"2011-06-21T00:32:24","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/06\/21\/westpac-shares-bottoming-says-techwizard\/"},"modified":"2011-06-21T10:32:24","modified_gmt":"2011-06-21T00:32:24","slug":"westpac-shares-bottoming-says-techwizard","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/06\/21\/westpac-shares-bottoming-says-techwizard\/","title":{"rendered":"Westpac Shares Bottoming, Says TechWizard"},"content":{"rendered":"<p>\n\tBy Rudi Filapek-Vandyck<\/p>\n<p>\n\tThe TechWizard likes to see divergence occurring at tops and bottoms. It helps him in determining when turning points are about to kick in.<\/p>\n<p>\n\tRight now, he sees divergence forming on price charts for banks in Australia, such as Westpac ((WBC)). While this doesn&#039;t mean the shares will put in a rally today or tomorrow, it is likely a signal that a bottoming process is taking hold, reports the Wizard.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/WBC_Bottoming.jpg\" style=\"width: 670px;height: 401px\" \/><\/p>\n<p>\n\tWhile the 20 moving average is still trending down, which is a negative, the Wizard report he starts to see value opening up in Westpac shares near $21 a piece.<\/p>\n<p>\n\tThe TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au. All views expressed are the TechWizard&#039;s, not FNArena&#039;s (see our disclaimer).<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we <span>apologise<\/span>, but technical limitations are to blame.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TechWizard sees value in Westpac shares at present price levels.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[90,91],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58331"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=58331"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58331\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}