Westpac Banking Corp (ASX:WBC) Warns Customers Of Email Scam

Westpac Banking Corp (ASX:WBC) Warns Customers Of Email Scam

Westpac Banking Corp (ASX:WBC) Warns Customers Of Email Scam

  • WESTPAC customers are warned to be taking extra care following the emergence of a troubling malicious email scam this week.
  • Discovered by Australian cybersecurity firm MailGuard on Wednesday, the scam is targeting Westpac customers with an email that has a subject line reading “your account is locked”.
  • The email advices customers’ that their account has been temporarily locked “as a result of technical issues detected” and can only be fixed by clicking on a link within the article.
  • Westpac has rejected the corporate watchdog’s claim it broke responsible lending laws in the mortgage market, saying the regulator has failed to prove that a group of loans it made were unsuitable for consumers.
  • In a landmark action, the Australian Securities and Investments Commission in March alleged the bank acted irresponsibly because it did not adequately test whether borrowers could afford their loans.

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: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 31.99.

The projected upper bound is: 30.93.

The projected lower bound is: 28.82.

The projected closing price is: 29.88.



WESTPAC FPO closed up 0.050 at 29.970. Volume was 28% below average (neutral) and Bollinger Bands were 30% wider than normal.

Open         High           Low          Close         Volume
29.860      30.055      29.755      29.970      4,632,839

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

Moving Averages: 10-period        50-period    200-period
Close:                       30.08               32.91            32.06
Volatility:                19                     20                  20
Volume:                   8,973,326      7,167,147      5,972,452

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 6.5% below its 200-period moving average and is in an downward 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 bearish on WBC.AX and have had this outlook for the last 26 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

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 42.9448. This is not an overbought or oversold reading. The last signal was a buy 1 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 32.71. 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 1 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 -60. This is not a topping or bottoming area. The last signal was a buy 1 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 buy 5 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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