Walmart Technical AnalysisBefore going long let's wait the US stock market opening to check the impact of the protests/riots on this Stock.
(The idea is to go long, based on Technical Analysis)
Walmart stores suffer damage from George Floyd protests and looting — several hundred forced to close early
WMT trade ideas
High risk selling opportunitiesUsing trend lines to determine bullish or bearish stance on the charts seems like pre-schools stuff, it is a no brainer as some traders might say.
Break out of bullish trend = sell, break out of bearish trend = buy.
In a way, they are right but it is more than that. Take Walmart as an example. It is enjoying a nice bullish run since the 1990s, whether you view it on monthly, weekly or daily chart.
Thus, any traders who attempt to short ,say on the 4H chart where the blue rectangle is IS taking a huge risks. Yes, smaller time frame may gives you the opportunity but because the bullish moves on bigger time frame is so strong, it dictates the moves of the smaller timeframe as well.
Of course, if you look at other stock charts, it may not be the case as each stock behaves differently.
My point is employing a counter-trend strategy , ie shorting in a bullish direction is high risk, requires you to be nimble and highly alert to the price action to enjoy the profits.
I have shown you several examples ( here and here ) where you can short easily and make good profits.
Walmart channel + Fibonacci analysisSince late april, WMT has been in an upward channel fighting to stay above the 10sma.
The 50 & 200 simple moving average also line up closely with the 38.2% & 50%fibonacci retracement level, respectively.
The Bollinger Band Width, which is the difference between the upper and lower BB, is trending lower, indicating a build up in a move up or down.
Watching closely.
Walmart Bullish, Consolidating for a bit then towards $130Walmart is going to be consolidating for a bit around the support that its been hitting
but overall Walmart is going upwards, it keeps making higher highs without breaking support
easily looks like along for Walmart around the 120.92 support
Once the MACD creates a new lighter red candle (bear candle) we can expect an increase of around $8 dollars towards the upside which would bring the price of Walmart somewhere along the lines of $130
overall long on walmart especially during recessions, expect same results from dollar stores
Perfect swing-trade opportunity here!A few weeks ago I shared a WMT idea, ( you can check it in my profile). It was a bullish pennant pattern, then the company released its earnings..they beat the estimates. Then it sold off massively.
Knowing the effects of the virus on Walmart... I am very bullish on this company.
The fundamentals are strong and based on TA, what we have here is a very good entry point.
A falling wedge(purple line) is forming. The support line is holding at 124.22. I expect it to break its resistance level.
My swing-trade looks like the following:
>Stop-loss: 123.46
>Take-profit: 129.32
Walmart Earnings Double Short?Made a weekly trade on WMT, as writing this we seem to be breaking through $126.
My play:
- WMT $123 Put 5/22 @ $51 per contract.
Contract prices are up around the $65 area currently. If we lose this level I don't see premiums getting any cheaper for this play (you missed out).
Do not trade this, you will lose money.
DotcomJack
WMT - Walmart Technical Analysis Bullish Trend
Walmart Inc. (NYSE: WMT) will report its fiscal first-quarter results before the markets open on Tuesday as well. Analysts are looking for $1.17 in EPS and $130.31 billion in revenue. Shares ended the week close to $126, with a consensus price target of $128.56. The stock has a 52-week trading range of $99.91 to $133.38.
$WMT Bullish setup pre-earning targeting 140-136 SL 120RSI showing positive direction supported with good levels for other indicators - Bullish candle on Friday suggested continuation for bull wave targeting ATH range between 140-136 . Previous top at 133.38 and recent support at 122 below it 120 and 116
Shoutout to maxim77788 WalmartShout-out to maxim77788 he said Walmart could see a boom I took his advice and came out with a nice profit.
If Walmart beats the expectations on the earning it could go up $5. And makes hitting $140 in 1-2 weeks a reality. One thing to keep in mind though is Walmart is almost overbought. PLEASE COMMENT WHAT YOU THINK!