Why Walgreens Stock's Latest Rally Could Backfire

Walgreens Boots Alliance Inc (NASDAQ:WBA) stock has been in a world of hurt ever since losing its spot on the Dow Jones Industrial Average (DJI) this year. The equity has been trying to distance itself from its Nov. 21, record low of $8.08, but carries a hefty 62.2% year-to-date deficit. Plus, the stock's latest rally following reports the pharmacy company may get taken private sent WBA right into a trendline with historically bearish implications.According to a study from Schaeffer’s Senior Quantitative An ...