Walmart approached long term resistance today and instantly dropped which obviously isn't a great sign...BUT I think its been holding this support zone pretty well for the past couple of weeks which IMO is fairly bullish.
I think WMT could attempt to fill the gap at 143 but on the event that it doesn't hold this zone, I will be shorting this stock back down to ~120.
Look for a close under 137.85 before loading up on puts and short positions, I would also consider long dated monthly contracts.
If it can break the resistance... we will see ATHs again!
Happy trading!
I think WMT could attempt to fill the gap at 143 but on the event that it doesn't hold this zone, I will be shorting this stock back down to ~120.
Look for a close under 137.85 before loading up on puts and short positions, I would also consider long dated monthly contracts.
If it can break the resistance... we will see ATHs again!
Happy trading!