Buy Walmart USD 140RSI 2 is currently below 10 and Price is above moving average 200.
Please trade with care.
4WMT trade ideas
#WMT - 4H - CHRISMAS GIFT - STIMULUS DEAL. Perfectly tidy midterm uptrend since the beginning of July. One-touch on October 30th, and here we go again to test that uptrend strength. But this time, we've got a 0.236 Fibonacci support acting as a safety net.
Also, we can observe a rebound on that RSI's oversold lower band (30).
This Sunday, Republican and Democratic party leaders announced that a deal had been reached for a new stimulus check. There are enough votes for a majority approval this Monday on congress. This policy will impact positively on all retail companies such as Walmart.
Monday's pre-market will discount this political victory and from the beginning of the session, we'll have a nice bullish day.
Opening position: USD 145.95.
Stop loss: USD 144 (-1.30%)
First price Target: USD 153 (+5%)
Risk-Reward ratio: +3.91
(GOLD futures are already reacting positively on Sunday's night)
Cup and Handle Rising wedgeIntra-year cup and handle pattern..
Long after validation that RW does not interfere or fall from RW complete..
Support at handle low and mid cup which is 143..
WMT has dipped briefly out of the narrowing rising wedge..strong stocks may not fall far but the rising wedge is a bearish pattern most of the time.
A RW is not valid unless bottom trendline is broken and can be a long term pattern..takes at least 3 weeks to form differentiating it from a pennant.. A stock can break up from a rising wedge but the break out is often short lived.
Both trendlines in a RW slope up and converge, or narrow at the apex..They are caused by irrational exuberance and interfer with supply and demand..
NV is high as is OBV. Short interest is low so maybe WMT will not fall any further..
Long term up trend but the 5 MA is well below the last monthly candle. Price is often drawn to the 5 day moving average...It is harder than we think to change a trend as the market is like a huge ship that does not stop on a dime. The market has inertia and and likes to continue doing what it has been doing...it does not mean it will last forever though and ships do eventually stop and turn around...
Be safe/just an observation and not a recommendation
Walmart Holds the TrendlineWalmart has fallen by the wayside lately as investors focused on reopening stocks. But now it could be poised for a rebound as the coronavirus pandemic worsens.
The big box retailer has a trendline starting at the March lows, which was tested in early July and late October. It’s now returned to consolidate at that line.
WMT’s 50-day simple moving average (SMA) has also been rising and follows the trendline.
Next, its recent consolidation zone around $145-146 is near the mid-October high. That could mean old resistance is becoming new support.
Finally, stochastics show an oversold condition.
The fundamental picture is also strong, with top- and bottom-line beats the last two quarters. Its digital transformation has been successful. Now brick-and-mortar sales could enjoy a boost if vaccinations drive traffic back into stores.
Overall, WMT is a large cap and major index member – exactly the kind of stock investors have shunned recently in favor of smaller names and IPOs. However, a sense of risk may be spreading in the market as coronavirus rebounds. The result could be a return to the big and safe names like the retail giant based in Bentonville, Arkansas.
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WMT - December 20, 2020WMT is the dominant all things retail, defensive in turbulent times stock. Throughout the pandemic WMT has exhibited stellar e-commerce growth of US sales up 97% yoy compared to estimates of just 37% in Fiscal Q2. These growth levels are attributable to increased online shoppers as a result of the pandemic, and WMT has exhibited a best-in-class adoption of their e-commerce platform. From a technical perspective, WMT has found a base in the 145 level and should look to bounce nicely from this level.
WMT - The Time for a Move is NearWMT - with lockdowns and the holiday season upon us, WMT is positioned VERY WELL to accelerate their online presence and competition with amazon and others. I'm already in, and watching these channels and trend lines for the next impulse. Enjoy!
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WMT - Descending Wedge Reversal PlayIf anyone likes playing WMT, this seems like a good play for monthlies. Forming a descending wedge into the March trend line dynamic support. Reclaimed 9 EMA on the 4H chart and starting to curl up. Trigger to enter is 146.91, as it's the line that has been long-wick rejected two times in the past few days. Breaking this level would also indicate a trend-reversal breakout from the current downtrend.
This is moreso a bottom reversal play, rather than my usual momentum/breakout play, so be sure to get far-dated contracts, and position accordingly.
