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 @ $82.73
Comment:
Significant resistance at horizontal level, 62% fib, downward trendline. We got a daily wick above that trendline but failed to close above it.
Red circle represents where significant resistance was. Holding to original plan.
Comment:
Nice daily close above trendline. Should see some longs entering in within the next 4 days and a push up.
Comment:
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.
Comment:
WMT looking like a decent dip to buy when it gets close to that trendline
I am holding WMT long since bull div
Trade closed: target reached:
Win @ 88.53. Active 47 days. Result 6.89% win.