WMT trade ideas
$WMT Walmart Day Trade Potential entry above $138.50 Upside target $144.
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Tari CondorHi guys!
This iron condor has 83% probability to win, 2 weeks, 6% strikes.
Follow the rules of my strategy to get in, and
Enjoy your wallet!
Tari.
The Walmart and the Tik Tok news could be a perfect mixThe daily chart under review has a whole lot going on, Wmt has been in its broader uptrend since its corona sell off/ rebound. This one shows alot of the breakdowns of price action. Lets put the past 6 weeks under review. The price action has ended in a seemingly cup and handle formation, typically which take around 6 weeks to form, this puts it at the right place at the right time if past trends continue. Currently nearing oversold on the RSI on a higher price level than it ever has been, gives an idea that it has earned strength in this area, and can be due for a push higher with good volume. If this one goes any lower, Id expect a bounce off the 50 day moving average. Good timing for tik tok news as this may be what WMT needs to push higher. Posted are resistance and support levels, with the purple levels signifying a change in action and possible pivot zones.
WMTIndicators:
Daily:
- MACD: need to decrease it's negative volume to curve up
- StochRSI: oversold
- RSI: finding support
- VWAP: coming to interesting point
4H:
- MACD: trying to uptrend
- StochRSI: oversold
- RSI: trying to find support
- VWAP: coming to interesting point
WMT big wedge about to break to the upside I hope, walmart+, ps5 sales and the holiday season with one day shipping make me bullish...my first published chart, take it easy on em eh?
WMT Swing / Or long - Buying OpportunityLooking at MACD, and proximity to lower support trend line, and Walmart move with Walmart Plus, I think its a great time buy. I have my eyes on 160 price target.
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 9/15 Movement Possible bullish movement on WMT for 9/15. Consolidating pattern with multiple breakout attempts.
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 Elliot motive and correctional wave + MACDMy wave count works out as I plotted my ABC corrections last night before price got there
The MACD appears to almost have a sell signal and is below the histogram
Price may re-correct at the bottom of the next 1h so be ready to catch early pip
