Walmart - looking for a long
WMTAt a time when stocks in many industries are falling. Food chains are growing. So the Walmart storms 119.95.
At the last trading session, there was a long-time retest of the level from 18.02.2020.
The level was reached on large bars, which may indicate insufficiency of gained position by a large long player. However, there is an accumulation in the channel between 112 and 115.
My strategy regarding this stick is: as soon as the price breaks the level and fixes above it, I will look for the entry point. I would not recommend to trade a long break-up strategy here: it is quite possible to expect a false break-up first, and then fixation.
I would like to add that during the crisis the market senses are very speculative. You should trade only what you are sure of and only as your strategy allows.
I like to trade with short risks, as a consequence, I do not need very large price movements in order to take my 3.1\1. If you trade with bigger risks, you may not have enough potential movement. Always take ATR into account.
Take care!
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