WMT trade ideas
WMT Premarket PrepWe see that WMT has a complete auction in both extremes, and the premarket low is respecting our support zone ( 136,65) for that reason we are going to look for longs from there, also we believe that today`s range is gonna break because of the options expiration day, so if you look for a trade , you should leave a fee position to see what the market can give you today.
Cup & Handle with some spiking upward price actionWMT wants up. Price action over the past few trading sessions has shown many spikes that quickly faded, whether they be in reaction to positive news or just intraday movements. It appears a cup and handle is forming which is easiest to see on the 30min. Fib targets above.
WMT Short divergence + Elliot waveOn my previous idea, my wave count was correct on the 1H chart, the motive was a downtrend.
To add to the confirmation of a trend, there is a bearish divergence and towards the lowest prices we see 2 key areas of support/resistance.
My corrective waves were placed on these supports and I extended the 3rd wave, following the downtrend.
With this recent high price, evidence suggests price wants to fall to the previous area, a good opportunity to short.
Manage your own risk please :)
WMT and SPY love each other?WMT for Friday, September 11, 2020
SPY and WMT seem to be synchronized, so we have SPY here for reference.
(faded blue line)
Large fib is for the dip, showing it went down to the 1.618 line.
Seems like that may be the end of the drop... hopefully.
Small fib is for potential target zones for short term.
Breaking the 0.5 would be nice to confirm retracement.
Heading to 1 would be nice, 1.272 - 1.414 are my favorites.
We are currently in what appears to be a descending channel.
Hopefully we break out bullish and above the 0.236 line @ $137.87
Good luck!
WMT - Neutral with 30% Long vs 60% Short and 10% SidewayWMT is in a downtrend.
On M15 and H1 form Bearish Flags.
It is likely that the price will increase slightly then continue the downtrend.
Target increased to the zone of $ 145.50.
Target dropped to $141 and $138.68.
Do not open any position at this time!
Disclaimer
Walmart Final Motive Wave $WMTWalmart current price: $142.83, entry price: $135.42 , stop price: $132.50, target price: $161.80. Seeing an incredible risk reward ratio setup with high probability in my opinion. I have little interest in shorting unless I can get puts around $147. Expecting powerful final 5th wave, of the 5th wave diagonal, of the extended 5th wave of this 5 year bull rally of WMT. Most optimized play would probably be $165 calls with Jan '21 expiration.