WMT: Picture perfect long setup
Updated
WMT is offering a very nice entry, after forming a new weekly mode, which implies the strong uptrend is seeing reaccumulation at higher levels.
I'm looking to enter longs at market, at the open, ideally on retrace to the mid point of the green triangle on chart.
Stops should be below 67.40, for example at 66.51, or using 3 times the daily ATR.
Yield is very nice and I think the stock is due for a 11%+ rally still.
Good luck if taking this trade.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
I'm looking to enter longs at market, at the open, ideally on retrace to the mid point of the green triangle on chart.
Stops should be below 67.40, for example at 66.51, or using 3 times the daily ATR.
Yield is very nice and I think the stock is due for a 11%+ rally still.
Good luck if taking this trade.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
Trade active
Bought some shares, pending limit buy lower too.Note
Retracement entry filled, added to longs.Note
"(...)enter longs at market, at the open, ideally on retrace to the mid point of the green triangle on chart. Stops should be below 67.40, for example at 66.51, or using 3 times the daily ATR.
Yield is very nice and I think the stock is due for a 11%+ rally still. "
I'd like to know how many caught this long. If you're in, I'd reccomend selling calls against the position to benefit from downside protection while getting paid dividends.
Let me know if you took this trade gents and how do you feel about it. Cheers!
Note
WMT has outperformed the sector and SPY, I expect it to continue to be this way during the year.Very nice long.
Note
Slow and steady. I like it.Note
Still constructive on WMT. Letting longs run, if we retest the mode I'll scoop more shares.Trade closed manually
I closed my longs on the 28th after failing to resume the push up. I'm short WMT as of April 29th's open.We'll retest the 64 key level but might break and see a double bottom form within 2 months.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.