$WMT Uptrend channelWal-Mart Stores Inc $WMT shares are gapping higher, lifting up and is moving towards of the uptrend channel.
Wmtlong
WMT Approaching Support, Potential Bounce!WMT is approaching our first support at 87.23 (horizontal swing low support, 61.8%, 100% fibonacci extension, 78.6% fibonacci retracement) where a strong bounce might occur pushing price up to our major resistance at 93.14 (horizontal overlap resistance, 61.8% fibonacci extension, 38.2% fibonacci retracement).
Stochastic (34,5,3) is also approaching support and seeing a bullish divergence where we might see a corresponding bounce in price.
Cup and handleHeight of the cup is approximately $16 which gives a measured move to ~$110 on a confirmed breakout above the handle. #Blessed
WMT - Bullish Swing TradeThis is a riskier trade, I am betting that the 200 SMA will hold and that Walmart will move higher. WMT has already bounced off of the 200 SMA several times before. My target is $92.75.
Wal-Mart WMT looks like it presents an opportunity to buy in at heavily discounted prices. To the tune of 20% off. Normally I would be interested in buying nearly anything that is 20% off.
Pull up this chart and look at it on the Weekly time frame. It appears as though our bearish trend might not be over and is just beginning.
Fundamentally I like Wal-Mart and I think that their entry into the meal kit service will present a great opportunity to increase store traffic.
Noticed large institutional buying of WMT in Q4 2017, and although positions are starting drown this likely appears to be a buy and hold opportunity.
I think the retail market will continue to grow in 2018 as we saw the highest retail sales growth in more than a decade (Q3 2017).
