ABC BullishWMT fell from a rising and narrowing wedge pattern and appears to be trying to go recover..
The target is D so it is ultimately an ABCD pattern, just D is not there yet and can't always take it for granted (o:
Targets are calculated using the length of the AB leg and fib levels.
Somewhere under C is often a good place to put a stop.
Long entry is when price breaks the BC leg in an uptrend and this can be subjective. I picked a price over possible resistance but you may see something different than I do.
NV and OBV are both high so there is interest.
WMT seems to be chugging along from one abc pattern to the next.
WMT has tested level C which often occurs.
Patterns do fail and nothing is for sure so be safe.
Stops can be important, so tuck it away where MR Market does not steal it from you (o:
Not a recommendation
