WALMART in need of a short term technical correction.Walmart has been trading inside a Channel Up since March and just formed a Higher High Top, same as on May 10th.
The main Support is the MA100 (1d) and long term the MA200 which is holding since October 21st 2022.
Trading Plan:
1. Sell on the current market price.
2. Buy at 152.00 as long as the candle is closing over the MA100 (1d).
Targets:
1. 152.00 (bottom of the Channel Up and 0.5 Fibonacci level).
2. 164.00
Tips:
1. The RSI (1d) also formed a pattern that is consistent with market tops since 2022.
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WMT trade ideas
WalMart stock is accelerating!WalMart stock is accelerating!
This chart shows the weekly candle chart of Wal Mart stock since the end of 2019. The graph overlays the golden section above the 2020 low point. As shown in the figure, the low point of Wal Mart stock in May this year just stepped back to 1.382 in the golden section of the figure, and the low point of the past three weeks just stepped back to 1.618 in the golden section of the figure! This shows that Wal Mart shares are in the early stage of accelerated growth, and the rate will probably break through the previous high! The next strong pressure level is the 2.000 position in the golden section of the graph (around 164.7)!
WMT Walmart Options After The EarningsIf you haven`t bought WMT Walmart here:
Or sold it here:
Now Analyzing the options chain of WMT Walmart prior to the earnings report this week,
I would consider purchasing the $155usd strike price Calls with
an expiration date of 2023-7-21,
for a premium of approximately $4.10
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
WMT Earnings tomorrow morningWMT basically triple topped with accumulation significantly lower than 2021 (not shown because I don't want to change my template, lol)
I don't think earnings will be good enough to justify this recent runup the past couple of months, bought some puts.
Remember, earnings is a complete crap shoot, the market pumped TGT on poor guidance today, lol.
Walmart’s controversial financial image
Shares in Walmart, Inc. (symbol ‘WMT’) managed to recover from the losses incurred in the first quarter of the year and is currently in profit area testing the latest high of November 2022. The company is expected to report its earnings for the fiscal quarter ending April 2023 on Thursday 18th of May, before market open. The consensus EPS is $1,30 compared to the result for the same quarter last year of $1,30.
‘ The financials of the company are flashing “caution” signals all over the place. The net profit of the world’s largest retailer dropped by 15% year over year as of 31/01/2023 while the assets to liabilities ratio dropped also from 1.51 to 1.46 indicating the liabilities are growing while assets are declining in value on the financial statements. Dividend yield is at the low area of 1.49% while the payout ratio is at 53% which is not bad nor good news for investors. ’ said Antreas Themistokleous, an analyst at Exness.
On the technical side the price is trading in an aggressive bullish momentum after the first quarter and is currently testing the upper band of the Bollinger bands which is acting as a resistance on the price at the time of this report.
While the 50 day moving average is still above the 100 day moving average and therefore validating the bullish trend the $150 area is a strong technical support level since it consists of the psychological support of the round number, the 20 day moving average and is also just below the 78.6% of the monthly Fibonacci retracement level.
The Stochastic oscillator is in the extreme overbought area possibly indicating that a minor correction might happen before we see a continuation of the upward moving trend.
WMT symmetrical triangleWhat we can see on the chart is the symmetrical triangle which is neutral formation therefore we should wait with taking position as it may breakout to the upside or to the downside.
How to trade:
Enter long or short position once the price breakout of the triangle.
Targets for longs and shorts are shown on the chart.
In order to avoid trading the fake breakout, look for a volume surge.
Good luck
Walmart primary trend remains bullish.Walmart - 24h expiry - We look to Buy at 139.11 (stop at 134.61)
Levels below 140 continue to attract buyers.
The primary trend remains bullish.
This stock has seen good sales growth.
Preferred trade is to buy on dips.
A higher correction is expected.
Our profit targets will be 150.11 and 152.11
Resistance: 150.00 / 151.12 / 153.00
Support: 148.15 / 147.00 / 145.00
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Walmart: Within Reach 🙌Ever been to the supermarket and couldn’t reach the topmost rack? Walmart seems to have a similar problem, struggling to let go of the mark at $150.12 to hit the turquoise zone between $152.54 and $161.76. However, we expect the share to touch at this area soon to finish wave B in turquoise. This done, it should turn downwards, returning below $150.12 and slipping further below the support at $136.09 to complete wave (A) in magenta. After a short counter movement back above $136.09, the share should drop below the support at $117.27 and into the gray zone between $116.49 and $105.01 to place the final low of wave IV in gray, which should then initiate a new upwards trend. There is a 37% chance, though, that Walmart could shoot through the turquoise zone and conquer the resistance at $161-76 directly.
Patience... then downsideWalmart is approaching a key area of resistance between $151 - $153 on the weekly. If we look below at the RSI trend, it can serve as a double confirmation as there is a trend line also approaching its resistance.
Once Walmart hits that early 150's range, we can look to the downside.
Not financial advice, good luck to all :)
Here is a opportunity to short WMT. First, WMT's index has reached a resistance level at the previous high.
Second, the MACD has formed a bearish divergence, indicating an upward trend in the index, but the MACD histogram is smaller than before.
Third, the deviation of the moving average is large, suggesting a technical requirement for convergence. Therefore, WMT presents a short selling opportunity for today's intraday trading.
WMT - Rising Trend Channel [MID TERM]- WMT is in a rising trend channel in the medium long term.
- WMT has broken a resistance level in the short term and given a positive signal for the short-term trading range.
- WMT has broken up through resistance at 146.
- Overall assessed as technically positive for the medium long term.
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️
Walmart diamond top / H&S with targets below $WMTHead and Shoulders. Diamond top. Insider selling to the max. Bank nonsense. The drop to create bottom of diamond dwarfs the covid drop. Walmart would theoretically do well wen recession but not sure if the stock will hold up based off these technicals.
Elliot wave counting in the WMT stockHello,
Elliot Wave theory is a technical analysis method that is commonly used in trading to analyze price movements in financial markets. It is based on the idea that prices move in repetitive patterns, and that these patterns can be used to predict future price movements. When applied to Walmart stock, Elliot Wave analysis can provide traders with insights into the stock's price movements and potential future trends.
According to Elliot Wave theory, price movements in financial markets follow a repetitive pattern that can be divided into five waves. These waves can be used to identify the direction of the current trend and predict potential future price movements. Applying this theory to Walmart stock, a trader may look for the five waves in the stock's price movement and identify potential buying or selling opportunities based on the direction of the trend. By analyzing the patterns and trends in the Walmart stock price, traders can use Elliot Wave theory to make informed decisions about when to enter or exit the market, as well as when to place stop-loss orders to minimize potential losses.
As per this chart we are in the corrective phase for more upside.
Good luck!
Walmart (WMT) Has A Falling Wedge!Wal-Mart (WMT) has a falling wedge on the daily timeframe. The stock closed above the 200MDA 2 days in a row (last Thursday and Friday)! On the second day it also closed above the 50MDA! Last but not least, the second day closed with more buying volume and pressure than the day prior. Also, the upper trend line of the falling wedge pattern, was touched three times! Therefore, the aforementioned confluences are strong signals for price to increase over the next few weeks.
Harmony,
MrALtrades00
*This is not financial advice.