The ManI've been listening to every one of Trump's conference calls. He continues without fail to pump WMT. If we identify this point as a harmonic, the measured move is at $140, which means there's plenty of room to make money.
WMT trade ideas
Walmart approaching neckline Walmart has been trading within it's ascending channel since the start of 2019, obviously throwing around corona volatility since the start of this year. We are now approaching a potential neckline region and tap of the lower channel before recovering slightly into a right shoulder. Profit taking between 118. - 120.
Border line resistanceIf it closes today below that nearest red line, then most probably it should start going down.
Walmart $WMT Nice pullback, simple fact - Sales will OutperformMerely my opinion.
Went long $116 Calls
Trade at your own risk.
Goodluck.
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Watch hourly RSI and Tuesday openOn hourly chart I have circled a possible double bottom indication with divergence (RSI was higher in second drop while price was lower). Stochastic is over RSI, 10sma is over 20sma, and price has held 20sma support.
Though these signals are in play for buying calls, the 20sma is still downward and daily chart shows there could be more downside. Today's reversal open from Friday is very bearish. Be patient.
WMT Long : + % 2.10 - % 5.41Parameters :
Position Size : % 1
Risk/Reward Ratio : 3.48
Stop-Loss : 113.42
Goal : 116.51
*** NOTE : If opens too high , Goal = 120.29
WALMART INC. (WMT) DailyDates in the future with the highest probability for price direction reversals
A most interesting chart - rising on defense or return to 100?Walmart is supposed to be a defensive stock to buy when the market drops, but the charts show that price may head lower.
Reasons for weekly 115 puts (higher risk) or swing trade 110 puts (lower risk):
> In candle chart, green rectangle, you see a very bullish pattern between 2/27-3/2, and also a bullish engulfing candle on 3/6. However the volume directional moving index is low, suggesting this could be a rubberband effect that will not last.
> Chart shows daily resistance line, dotted red
> Between 2/21-2/25 (3 days), stochastic %K dropped from over 80 to under 20. The ensuing drop and quick rebound might give way to more downside --> look for RSI on daily to head back below 50.
> Simple moving averages are in descending order: 10<20<50<100. one caution, 20sma is flat.
> On weekly chart - 10sma is below 20sma and stochastic %D is below RSI. Price is testing 20sma.
You can watch 30m timeframe for more signals to open puts, such as RSI moving lower and 10sma crossing below 20sma. On daily watch for the same, and for resistance line to hold.
