Walmart Readying Itself for EMA Correction After Island Reversal
Updated
WMT has been beaten around lately after a report found they were mistreating a group of 178 female workers. After a gap down, more selling off, and then a rebound just above the widely used 200-EMA, it is now seemingly gearing up for a a bullish reversal out of an island reversal chart pattern.Green line: island reversal trajectory
Orange rectangle: Gap zone with necessary breach for bullish confirmation.
I would not enter a bullish position on
WMT without seeking this confirmation first. Trade closed: target reached
It entered the gap range. Profits were taken and positions are closed.
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