Price met the 1.618 fib almost perfectly. This asset is also trading in a rising wedge, bearish, and is fighting the trend line now. Price is making higher highs but the RSI is making lower highs which is a bearish divergence, indicated by the red trend line.
On the weekly I see an even more egregious bearish divergence, and an rising wedge pattern too. All of this makes me bearish on
WALMART
On the weekly I see an even more egregious bearish divergence, and an rising wedge pattern too. All of this makes me bearish on
WALMARTNote
WMT is starting to fall, as expected, if selling momentum picks up I expect to hit the first target, ~$112, by next week.
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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.