General Motors Rallied. Now it’s Pulled Back.General Motors recently hit a two-year year high, and some traders may see opportunity in its latest pullback.
The first pattern on today’s chart is the price area between roughly $45.70 and $46. The automaker stalled at this level in early April and remained below it all of May. It then broke out sharply on June 10 and has remained above it since. GM tested the zone last week and bounced. Has old resistance become new support?
Second, a pair of bullish gaps after the last two quarterly reports may reflect positive fundamentals.
Third, stochastics have dipped to an oversold condition.
Finally, prices have remained above the 50-day simple moving average. The 8-day exponential moving average (EMA) is also above the 21-day EMA. Those patterns may suggest GM has bullish intermediate and short-term trends.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
Centered Oscillators
Schlumberger Could Be OverboughtSchlumberger has bounced along with other energy stocks recently, but some traders may see a downtrend taking shape.
The first pattern on today’s chart is the $47 level. It was near the lows in February and early May. SLB is now potentially stalling at the same point. Has old support become new resistance?
Second, the 50-day simple moving average (SMA) has fallen into the same price zone. That may reflect a bearish intermediate-term trend.
Third, the 50-day SMA had a “death cross” below the 200-day SMA in early January and has remained there since. That may reflect a bearish long-term trend.
Finally, stochastics have hit an overbought condition.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
Is the mexican index in danger?Even with great companies conforming this index, it's impossible to ignore the effect that Claudia Sheinbaum's victory had over the markets. It's shocking to see the pessimism of the markets after her victory. Unfortunately, this has now created an infliction point in the BMV:ME index. With no recent clear support, it could be possible for price to drop quite a bit more, opening great buying opportunities.
However, if price does not begin to reverse this trend soon, it's possible that we will test lower lows.
SHIB - This Indicator says SELLSHIB has just flashed a dangerous "SELL" alert.
This indicator is highly accurate in higher timeframes, especially the weekly. Look at all the "SELL" signals and how far the price drops after:
From a trendline perspective, SHIB HAS to stay ABOVE the current support line (Fibonacci line 0.236). If it falls under, SHIBA will be at risk of falling to the dotted line, which is BEARISH.
In case you missed it, my take on Bitcoin for the SHORT TERM:
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BINANCE:SHIBUSDT
USD/JPY: Keeping an eye on false breaksOn Friday we saw USD/JPY failed to hold onto intraday gains above 158 following the BOJ meeting, and close the day back beneath the prior 'MOF intervention' level to form a shooting star candle.
Prices drifted higher on Monday on relatively low volume, putting us once again on guard for either a false break of 158 or Friday's high.
We're seeing a simple countertrend move back down to the high-volume node around 157.30 or even 157, should US data surprise enough to the downside later today.
Unveiling the Falling Wedge: XRP Short-Term Boon Unveiling the Falling Wedge: A Short-Term Boon on the 4-Hour Chart
In the fast-paced world of day trading, identifying short-term opportunities is crucial. The falling wedge, a technical chart pattern, emerges as a valuable tool for traders seeking to capitalize on price movements within a specific timeframe. This article dives deep into the falling wedge, exploring its characteristics, how to identify it on a 4-hour chart, and strategies to leverage it for short-term gain.
Understanding the Falling Wedge
The falling wedge, as the name suggests, is a bullish reversal pattern. It's formed by two converging trendlines, with price action creating lower highs and lower lows, but at a decreasing rate. Imagine a wedge shape being squeezed from top to bottom, with the narrowing gap hinting at a potential price reversal to the upside.
This pattern signifies a period of consolidation where bears (sellers) are gradually losing momentum. While the price continues to fall, the decreasing distance between the trendlines indicates diminishing selling pressure. Bulls (buyers) start to accumulate, anticipating a potential breakout and price increase.
Identifying the Falling Wedge on a 4-Hour Chart
The 4-hour timeframe offers a sweet spot for day traders, providing a balance between short-term volatility and clear trend direction. Here's how to identify a falling wedge on your 4-hour chart:
1. Trendline Construction: Draw two trendlines, one connecting the swing highs (peaks) and another connecting the swing lows (valleys). Ensure both lines are sloping downwards, forming the wedge shape.
2. Convergence: Observe how the trendlines converge as the price action progresses. The closer the trendlines get, the more likely a breakout becomes.
3. Volume Confirmation: While not a definitive indicator, an increase in trading volume accompanying the price move towards the wedge's apex (point of convergence) can strengthen the breakout signal.
Key Points to Remember:
• The duration of the wedge formation doesn't have a set timeframe, but longer wedges tend to have stronger breakout potential.
• The tightness of the wedge (how close the trendlines are) also influences the potential force of the breakout. Tighter wedges generally suggest a more explosive move.
• False breakouts can occur, where the price pierces the lower trendline only to fall back within the wedge. Proper risk management is crucial in such situations.
Strategies for Short-Term Gain
Once you've identified a valid falling wedge on your 4-hour chart, here are some strategies to exploit the potential short-term gain:
1. Breakout Entry: Enter a long position (buying) once the price decisively breaks above the upper trendline. This breakout signifies a reversal in bearish momentum and a potential price increase.
2. Price Target: Set your initial profit target at a level equal to the height of the wedge. Measure this distance from the breakout point and project it upwards.
3. Stop-Loss Placement: Place your stop-loss order below the lower trendline of the wedge. This limits potential losses if the price falls and breaks the support level.
4. Trailing Stop-Loss: Consider employing a trailing stop-loss as the price moves in your favor. This adjusts your stop-loss automatically, locking in profits while allowing for some price fluctuations.
Additional Considerations for Success
While the falling wedge offers a promising setup for short-term gains, remember that successful trading requires a holistic approach. Here are some additional factors to consider:
• Market Context: Analyze the overall market sentiment and any relevant news events that might influence the price action.
• Technical Indicators: Combine the falling wedge with other technical indicators like Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD) to confirm the breakout signal.
• Risk Management: Always prioritize risk management by using appropriate stop-loss orders and position sizing.
Understanding the falling wedge and the strategies discussed empowers you to identify potential short-term trading opportunities on the 4-hour chart. Remember, consistent practice, a balanced approach, and proper risk management are key ingredients for success in navigating the ever-evolving world of day trading.
Downtrend in Shopify?Shopify has struggled since late 2021 and now some traders may expect another push to the downside.
The first pattern on today’s chart is the pair of high-volume bearish gaps after quarterly results on February 13 and May 8. Both drops came despite better-than-expected earnings, which may suggest the e-commerce stock is a distribution phase.
Second, SHOP rebounded from the last selloff but stalled at the preceding low around $68. (Also notice how the first drop occurred at a key low from late 2020.)
Have old support zones become new resistance areas?
Third, prices are reversing at the falling 50-day simple moving average (SMA).
Fourth, the 50-day SMA had a “death cross” below the 200-day SMA earlier this month. That may reflect a bearish longer-term trend.
Stochastics are additionally starting to dip from an overbought condition.
Finally, TradeStation data shows that SHOP is a highly active underlier in the options market, averaging about 110,000 contracts per day in the last month. Traders looking for downside in the next few weeks may consider a strategy such as the July 60-July 55 put spread. It’s quoted for less than $0.75 and could potentially widen to $5 if SHOP falls slightly below its recent low.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Margin trading involves risks, and it is important that you fully understand those risks before trading on margin. The Margin Disclosure Statement outlines many of those risks, including that you can lose more funds than you deposit in your margin account; your brokerage firm can force the sale of securities in your account; your brokerage firm can sell your securities without contacting you; and you are not entitled to an extension of time on a margin call. Review the Margin Disclosure Statement at www.TradeStation.com .
Options trading is not suitable for all investors. Your TradeStation Securities' account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See www.TradeStation.com . Visit www.TradeStation.com for full details on the costs and fees associated with options.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
CENTUARY PLY - Moving out of the Accumulation Zone. The stock has finally moved out of the consolidation zone. Late last December, the stock met with price rejection around 850 levels and it was pushed down below the 200 DMA levels. Then it started consolidating for almost three months now. The money flow had started increasing for the past month and the relative strength also started showing signs of recovery. Today, the stock moved out of the consolidation zone with a gap-up opening and a widespread up-bar. Of course, it did meet some supply. as we can see, the close was almost in the upper mid of the bar. The stock also moved above the short-term and the long-term moving averages and we can see the convergence of the averages as well. The relative strength also is moving into the positive territory. The volume has also started increasing and we can see increase in delivery volumes as well. The momentum has been positive for almost a month now. Looks like the stock is now poised to test the rejection zone at 850 again. However, we need to see some increase in the relative strength and the momentum as well. There is also a possibility of a retest of the accumulation zone.
Follow up on the ES1! overextensionAnyone who has read my recent post will have noticed that we are tracking the increasingly over-expansive market in the CME_MINI:ES1! . If the trend is indeed our friend, then prices should remain moving upwards. Which is what I expect will happen. But in order to go into a strong uptrend, first some levels of support must be tested, or else we risk overexpanding even more. At which point, buying would become extremely dangerous. To avoid this risk, it's better to buy at discounted prices and hoping the price does indeed go ballistic. This is much preferable to buy while price is increasing, as many novice traders do due to FOMO.
With a new local maximum in place, we can safely say that a solid support has been created, yet it hasn't been tested. This in combination with the short term MA and the 2nd STD could provide additional support to the area. Making it a safe bet it won't go through. However, if this were to occur, then this would be a sign of a debilitating stock market and could potentially cause a crash. As there is a very large gap between our current supports and the previous ones. Which could lead markets to panic. I don't believe it's time yet, I think we are still missing a strong and not so long-lived final wave before we lose momentum and then crash.
Very interesting similarity between the ES1! and YM1!I was recently watching a video in the ideas section of trading view and I notice this person speculates that the price will drop lower in the Dow Jones. Interestingly enough, this also lines up quite well in my charts. It's important to notice that many differences exist between these two tickers. The fluctuations of the CBOT_MINI:YM1! and the CME_MINI:ES1! are quite different. I had to adjust the n data previous points in the short term mean return indicator to 20 as well as set the sensitivity to 2. This way the chart was not overcrowded and easier to read. As well as larger short term MA and distribution was needed.
I'll take advantage of this difference to explain what happens when the parameters in the indicator change. There are two factors to the sensitivity of the indicator. One is the number of previous days considered (parameter n). The higher this value is, the less sensitive the indicator is, therefore it's better at detecting longer term trends. This is the reason why I include 2 in the indicator. One to see the short term trend and one for the long term trend. This in addition to knowing where we are in the distribution help me for a hypothesis of what is most likely to happen next.
One key factor of my strategy when trading is to never go short unless you are absolutely sure you are correct, always look for discounts and take profits. It's better to buy at discounted prices than trying to catch both waves of the market. You already know the market did one wave, what do you think will happen next? Of course, the next wave! I personally trade with no stop loss to not materialize erroneous entries and look to buy even more as prices continue to drop and are at attractive levels. Unless there is a clear possible break of market structure like it's visible here, as the 200MA has been used in the past as strong points of support and resistance. If this structure is broken, then it's quite possible that price will trend even lower, so this trade does require a stop loss.
When I was more of an intermediate and unprofitable trader, I relied a lot on two indicators, which did give me the ability to make somewhat accurate predictions. Since tradingview has kept increasing the restrictions on free accounts, I had to choose between two of my favorite indicators. The RSI and the MACD. I chose to keep the MACD as it's visible on previous trades. Mean Returns offers the value of these two indicators into one, plus tests out a new hypothesis that I've been testing so far with great success.
The basic premise of this indicator is to chart the market cycles in terms of average returns generated in the n periods before and the current one. Additionally, it creates the supposition that the market has inertia and therefore is likely to continue doing what it's already doing (aka: the trend is your friend)
I hope the original posters of the video @AdvancedPlays gets to see this and find it to be of value.
Always remember there are no certainties in the markets, only probabilities
Tesla Restet seting up for new uptrendHere is quite visible how tesla tested its support recently. As it had been mentioned on a previous idea, this level has become a critical one for short term price action. However, seeing price swing up in this manner and then finding support in the 2 moving averages, I find it hard to believe price will drop back to test the structure. If structure is broken, then price will indeed go lower. But I don't think that will be the case. Most likely, we are about to enter an uptrend
Will BTC repeat its history?When prices begin to range away from the mean when dealing with up trending movements, power is lost in many indicators. When this happens, it usually means that price is currently in a bubble. In contrast to a ticker like the SP:SPX price usually doesn't behave in this manner. It's actually quite easy to understand why this is the case. If one was to make Monte Carlo simulations using a geometric Brownian motion, you would see some processes behave in a manner of a bubble. But if we take the aggregate of all movements and average them, or calculate a present value, the value tends to be around the center.
Well an index does quite the same but through different methods. By aggregating important tickers, they form an average based on different criteria, therefore are more susceptible to following the central limit theorem. Meanwhile, individual stocks, commodities or cryptocurrencies are more susceptible to violent movements which completely ignore technical indicators. This has led me to believe that the more a ticker is dependent on external factors the more it will follow traditional statistical and probabilistic methods. I have no proof for this claim, It's just what I believe based on experience.
When looking at central metric indicators, it's important to conciser there are two point in which these become unreliable. When price action completely ignores your distribution, such as it does here. And when the price is consolidating in the mean. When prices consolidates in the mean, it can be seen as a reset or as a very serious sign something is wrong. However, when minimums become unreliable then that is when one should really be scared, because that means something is seriously wrong. I will look for examples of this for you in the future.
When prices behave in this manner, I don't feel confident making predictions because when a ticker is more susceptible to speculation then price action behaves erratically and patterns become harder to find.
Finding a section to start tradingHello, traders.
If you "Follow", you can always get new information quickly.
Please also click "Boost".
Have a nice day today.
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The BW indicator included in the TS - BW indicator is an indicator expressed by synthesizing the MACD, StochRSI, CCI, PVT, and superTrend indicators.
When the BW indicator
- records a high point, it is time to sell, and
- When it records a low point, it is time to buy.
The BW indicator in the price candle section is the same as the BW indicator included in the TS - BW indicator, but it is an indicator that is expressed in the price candle when a horizontal line is formed at the highest or lowest point.
If you look at the position of the BW indicator expressed in the price candle section, you can know when to proceed with a trade.
I think you can be confident about starting a trade by referring to the status of the MS-Signal (M-Signal on 1D, 1W, 1M charts) indicator that can confirm the trend.
If you add the HA-Low, HA-High indicators here, you can create a more detailed trading strategy.
Have a good time.
Thank you.
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- Big picture
It is expected that a full-scale uptrend will start when it rises above 29K.
The section that is expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 13401.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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How to read mean returns (Expand the indicator)Mean returns is a trend detection and overextension indicator. It oscillates around the value of 0. The mean return line in reality is the orange one as well as the blue one. The difference is in the number of data points into the past that they consider. Since the value of those lines is the expected value of the returns in period t, then if it's over 0 the expectation is that returns will be positive, as previously the price has been trending higher. The opposite being true as well.
Meanwhile, the red and green line represent the expected upwards and expected downwards returns. That means you only take the expected value for the days in which the return was positive or negative accordingly. Therefore, if the mean returns are over the expected upwards returns the price is likely to be overextended, and vice versa.
Other adjustments were made to consider the current candle. This code will remain private, as it took a lot of effort to invent. I hope you are able to understand the math. If you can't, I hope this at least allowed you to read the meaning of the indicator through this.
Possible break of market structureI've been bullish on tesla as I like the company and is currently in a very long-lasting swing low, however if price drops more than this minimum it is possible that market structure will break and will test the lows again. If we do see a break in market structure, then the first proposed trade of the referenced idea will fail. However, the second trade still stands, we buy and hold Tesla. It has solid financial fundamentals and has an amazing brand. I seriously doubt there would be further losses in this company. I will eventually talk about my fundamental analysis, but that won't be right now.
Bitcoin (BTC) market overview | 10.06BTC’s daily chart portrays a significant rise from $60,176 on May 10 to the $71,958 high, followed by a correction and sideways movement. This pattern suggests a phase of price discovery and consolidation. Volume spikes accompany major price moves, with decreased volume during consolidation. Key support and resistance levels are $60,176 and $71,958, respectively.
Oscillators provide a mixed picture, with the relative strength index (RSI) indicating neutral conditions. The commodity channel index (CCI) at 39 and the average directional index (ADX) at 24 also suggest neutrality. However, the momentum indicator at 1941 signals bullish sentiment, while the moving average convergence divergence (MACD) level at 1007 indicates bearish sentiment.
Moving averages (MAs) show varied signals, but longer-term EMAs generally suggest reinforced bullish sentiment for the long-term outlook.
Given the mixed but generally positive signals from the longer-term moving averages and the momentum indicator, the overall outlook appears bullish. If bitcoin can break through the key resistance levels with strong volume, it could see significant upward movement.
WHITEBIT:BTCUSDT
Are we heading into euphoria or a technical reset?Here we can clearly see that the market structure keeps trending up, in very aggressive manners. Many technical resets have been made, and recently we went through one that lasted almost the entire Biden administration. Even though this reset is great for price action, it seems that it is quickly becoming parabolic. If price continues to behave in this manner, then we could be headed into euphoria. It's crazy to think that the yield curve has been inverted for this long.
Failure to reset technicals could bring us into a period with great short term yield. This could potentially captivate novice traders to become overconfident. Start paying attention to people around you if we keep on trending upward. Is your common foe suddenly talking about stocks and investments? I personally don't feel that way yet. But I can't deny the excitement people feel of finally reaching new time highs.
I'm not saying we are heading into a crash right now. But technicals and fundamentals are beginning to line up for what seems to be extreme optimism with flashing warning signs. I don't feel too confident in this market and would prefer to be buying at lower prices and see price trend up slower. A reset is necessary, or else we will be headed into an unhealthy and very violent uptrend.
Past Indications of uptrend health in the SPXEven when all empires fall, It's important to remember that as long as humanity in general continues to discover, explore, solve and invent, the better off we all are. That's why the price of indices always tend to go up. Even when they become stagnant, they eventually keep on increasing. The only thing that can revert this is a total collapse of society, which is unlikely in the present moment.
Nevertheless, it's also important to observe the health of a trend. When price increases violently, then a correction is likely to occur. These corrections can be severe or simple technical resets. Technical resets are good for everyone as it allows new buyers to enter the market as well as provide good buying opportunities. However, circumstances can lead the price to not have reset but instead have a correction or a crash. The difference between the two is that a correction is slow to reach the bottom, while a crash is a sudden move downward.
As one can see here leading up to the 2000 dot com crisis the uptrend was quite healthy, and it did a slight reset before going into euphoria, where price goes into the 3rd standard deviation range while pushing price higher and higher, before price lost momentum and eventually had a correction as the uptrend was way too aggressive. Meanwhile, leading up to 2008 crash there is a very aggressive uptrend, completely breaking into higher level deviations without going through the stages of a healthy uptrend. Causing the price to crash once the market realized that the system was still heavily corrupted by greed.
However, since things throughout time do improve, this allowed for another aggressive uptrend to form which instead of running into a crash it went into a technical reset which latter became the longest bull market in USA history.
Could we have bottomed early?Local maximums don't tend to follow the pattern of respecting overextensions like minimums do. This is mostly based on the positive bias people have of the future. Seeing a close this strong is a strong enough sign for the indicator of short term trend to become positive. If this is true then we should start pushing to new high, but if the market does so it risk overextending again but with the coming elections one could expect for the incumbent party to try to inflate stocks to have strong image heading into the polls. But by doing so it creates a high risk of over estimulation which could result in a time of euphoria followed by a crash. It's been 4 years since the 2020 crisis. The mode for recessions is every 3 to 4 years. If technicals begin to overextended and fundamentals to keep up, we might be headed to a new crisis. Technicals need to reset before going forward.
Possible entries to a Liverpool LongThis seems like a great buying point, looking at all the technicals, it would be hard for price to keep pushing down. However, the moving averages do tend to work as resistance and support, so it could be possible for price to drop there. However, It's unlikely price will continue to move down by much. And if so, price is likely to keep on rising. As this company has proven to be a go-to store for Mexicans looking for presents during the holidays, special events, sports gear and many others. Despite big competitors, this brand has lasted the test of time.
Minimum test on WALMART MexicoTesting a local minimum on WALMEX. Price has been trending lower, however it recently hit a very strong down movement. It seems as if the candles that have come out recently indicate that this drop has momentarily stopped. It's important to stay looking at how candles develop to avoid catching a falling knife, but price could possibly reverse here until it hits one of its moving averages