Walmart setting up for ATHBeen somewhat lazy the last few weeks and its reflected in my trading with missing some good setups.
Catalyst would be earnings report on Tuesday, its expected that WMT beats however I would expect a slight pull back after, some consolidation before a move a bit higher, again.
151.33 currently is the ATH, I am expecting that to break Monday as we see some continuation running into earnings. I would not play earnings as nearly everything regardless of outcome has dropped off after.
139.68 Is going to be your first retracement level based on the March lows.
145 area is where I will be looking for a pull back and hopefully find support. If support and consolidation is found here I will most likely take a 2-4 week call option in the 155 strike price range.
138 area I believe this is an area of concern as well and a decent area to expect it to drop if we dont hold the 145 zone.
Most likely a scalp on Monday with a fairly tight trailing stop
After earnings sit on hands and see which direction we go. If we can pull back watch the areas mentioned, remember shopping season is coming and a rotation into consumer retail is to be expected......... However we do have Covid and the media is hyping it up again.
Last week the rotation out of tech was strong, stay at home stocks fell despite the hype of covid and travel stocks gained. Market is not following any logic in my opinion.
Info below from Barchart
14 Day RSI at 80% 162.69
154.22 3-10 Day MACD Oscillator Stalls
Pivot Point 2nd Level Resistance 153.08
14 Day RSI at 70% 152.06
Pivot Point 1st Resistance Point 151.81
13-Week High 151.33
52-Week High 151.33
High 150.93 High
1-Month High 150.93
Last 150.54 Last
149.66 Pivot Point
149.34 14 Day %k Stochastic Stalls
Pivot Point 1st Support Point 148.40
Previous Close 148.23 Previous Close
148.22 14-3 Day Raw Stochastic at 80%
Low 147.52 Low
146.87 14-3 Day Raw Stochastic at 70%
146.54 14 Day %d Stochastic Stalls
Pivot Point 2nd Support Point 146.25
145.88 Price Crosses 9 Day Moving Average
145.75 38.2% Retracement From 4 Week High
144.40 Price Crosses 9 Day Moving Average Stalls
144.15 50% Retracement From 4 Week High/Low
144.15 14-3 Day Raw Stochastic at 50%
143.61 Price Crosses 18 Day Moving Average
143.56 14 Day RSI at 50%
143.06 38.2% Retracement From 13 Week High
142.78 Price Crosses 18 Day Moving Average Stalls
142.55 38.2% Retracement From 4 Week Low
142.30 Price Crosses 40 Day Moving Average
141.44 14-3 Day Raw Stochastic at 30%
140.50 50% Retracement From 13 Week High/Low
140.08 14-3 Day Raw Stochastic at 20%
138.24 3-10-16 Day MACD Moving Average Stalls
137.94 38.2% Retracement From 13 Week Low
1-Month Low 137.37
