Westpac Banking Corp (ASX:WBC) Tech Executive Warns Employees

Westpac Banking Corp (ASX:WBC) Tech Executive Warns Employees

Westpac Banking Corp (ASX:WBC) Tech Executive Warns Employees

  • Westpac’s most senior technology executive has warned workers aged over 35 risk being left in the blocks by the wave of automation and new technologies, unless management philosophy in large organisations adjusts to adapt to the changing world.
  • The bank’s chief information officer, Dave Curran, will outline his thoughts on the tech-led changes to Australia’s workforce and corporate structure in an address to a Trans-Tasman Business Circle lunch in Sydney on Tuesday, and he will warn that it is not feasible to continue on with the same business structures in place.
  • In a copy of his speech, seen by The Australian Financial Review, Mr Curran says most businesses are working under very outdated leadership models, which leave workers unable to learn and change their expertise in a way that will be useful once technology has overrun their existing roles.

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services. The Company’s segments include Consumer Bank, Business Bank, BT Financial Group (BTFG), Westpac Institutional Bank (WIB) and Westpac New Zealand. The Company has branches throughout Australia, New Zealand, Asia and in the Pacific region. The Company through its division offers its services under various brands, such as Westpac, St.George, BankSA, Bank of Melbourne and RAMS brands.

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 31.79.

The projected upper bound is: 33.29.

The projected lower bound is: 30.73.

The projected closing price is: 32.01.

WESTPAC FPO closed up 0.370 at 31.980. Volume was 46% below average (neutral) and Bollinger Bands were 38% narrower than normal.

Open      High      Low      Close      Volume
31.720      32.060      31.630      31.980      3,811,432

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period       50-period      200-period
Close:      31.87      31.13      32.34
Volatility:      16      26      22
Volume:       4,381,318       6,830,406       6,304,573

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.


WESTPAC FPO is currently 1.1% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of WBC.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on WBC.AX and have had this outlook for the last 35 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 53.5592. This is not an overbought or oversold reading. The last signal was a buy 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 53.54. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 46 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -23. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 9 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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