WMT bull div presents buying opportunity. WMT is 25% below all time high, a pullback that has occured with little or no upward mean reversion. Following our MACD and RSI bull div on the daily I expect to see some upward mean reversion here. A tight stop presents itself below local lows where there is very little volume. Target is 23% FIB/daily volume profile node OR just hold it forever since WMT is pretty safe stock.
Trade active
Entry @ $82.73Note
Significant resistance at horizontal level, 62% fib, downward trendline. We got a daily wick above that trendline but failed to close above it. Note
Note
WMT touche down today on daily volume profile node. TPs on the upper side of daily volume profile node. Only argument for TP early is bear div on 1 hour time frame. Will wait for original TP.Note
WMT looking like a decent dip to buy when it gets close to that trendline Trade closed: target reached
Win @ 88.53. Active 47 days. Result 6.89% win.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.