WMT trade ideas
Cup and HandlePossible stop below 125.2
Not a super deep cup, hence targets are not astronomical
Wmt has come back to fill gap it left behind so not issues there
WMT's handle low came dangerously close to Mid Cup after it fell from rising wedge it was in several weeks back. No longer in a rising wedge which are bearish.
The deeper the cup, the higher the targets, taking prior R and market mood in to account
Not a recommendation
$WMT Walmart Long Into Earnings
Earnings on Tuesday before the open, expectations
are for a rally.
MACD is reversing away from Zero-line
Histogram is ticking higher.
Volume steadily increasing.
7&12 ma's bullish cross above 20ma imminent.
$140 a conservative breakout target
$129 stop loss
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Walmart is expected to make big move post earnings $WMT BullishThis is a very easy long. Walmart ($WMT) like Dominoes ($DPZ) did not experience any major dump when the markets crashed and it was one of the first to rally. $WMT was sold off and money flowed out of $WMT into stocks that were crushed in May and June, $WMT consequently dropped below $120. It snapped back above $120 on the announcement of Walmart plus and retested above $130 and FOMO buying came aboard. After a bit of correction, it is expected to break out of its previous top and make new highs on strong earnings. There was no post dividend dump. $140 is an easily reachable target post earnings.
Walmart looking bullish heading into earnings.Great price action, exactly what we want to see.
Pumped into earnings with incredible price action, and a strong follow-through the 20dma. Slightly under the 20dma would certainly be my stop.
I think there are much better positioned for breaking through this topping point here.
Earnings are on Tuesday. I think we see a beat.
Will be interesting to see if there is any risk off into earnings.
P/E 25.22
Debt/Eq 0.85
Profit Margin 2.8%
EPS this Y +114.9%
EPS Q/Q +5.2%
Insider Own 36.1%
Institution Own 30.8%
Short Float 0.91%