Western Alliance Bancorp WAL Stock & Option Trade Ideas

Based on the technical data for WAL:

• The MACD crossed below the Signal Line, indicating a bearish signal.
• The RSI is currently at 46.45, suggesting the stock is not in oversold or overbought territory.
• The stock price is fluctuating around $63.

Stock Trading Strategy:

Given the bearish MACD crossover and the current RSI level, a potential stock trading strategy could be to wait for further confirmation of the downtrend before considering short positions or selling existing long positions. Traders could monitor for a sustained decrease in stock price below key support levels for further confirmation.

Option Trading Strategy:

Considering the bearish outlook for WAL, traders could look into the following option trade:

• Put Option: Traders could consider purchasing put options with a strike price near the current stock price and an expiration date that aligns with their timeframe for the bearish expectation.