$WMT Walmart Long Into Earnings
Earnings on Tuesday before the open, expectations
are for a rally.
MACD is reversing away from Zero-line
Histogram is ticking higher.
Volume steadily increasing.
7&12 ma's bullish cross above 20ma imminent.
$140 a conservative breakout target
$129 stop loss
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WMT trade ideas
Walmart is expected to make big move post earnings $WMT BullishThis is a very easy long. Walmart ($WMT) like Dominoes ($DPZ) did not experience any major dump when the markets crashed and it was one of the first to rally. $WMT was sold off and money flowed out of $WMT into stocks that were crushed in May and June, $WMT consequently dropped below $120. It snapped back above $120 on the announcement of Walmart plus and retested above $130 and FOMO buying came aboard. After a bit of correction, it is expected to break out of its previous top and make new highs on strong earnings. There was no post dividend dump. $140 is an easily reachable target post earnings.
Walmart looking bullish heading into earnings.Great price action, exactly what we want to see.
Pumped into earnings with incredible price action, and a strong follow-through the 20dma. Slightly under the 20dma would certainly be my stop.
I think there are much better positioned for breaking through this topping point here.
Earnings are on Tuesday. I think we see a beat.
Will be interesting to see if there is any risk off into earnings.
P/E 25.22
Debt/Eq 0.85
Profit Margin 2.8%
EPS this Y +114.9%
EPS Q/Q +5.2%
Insider Own 36.1%
Institution Own 30.8%
Short Float 0.91%