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yelf
Mar 16, 2018 7:58 PM

Potential Long WMT Swing from 200MA to challenge Earnings Gap Long

Walmart Inc.NYSE

Description

If the market (especially the Dow Jones) starts to make its way back towards the highs, WMT is a great candidate to go long. Recent bounce from the 200MA is showing legs thus far, and with a supporting market, we could see a rally to challenge the earnings gap at ~$97-98.

Confirmation that the trade is progressing well: watch for strong up days, exceeding the size of (daily) down candles/bars.

Logical stop would be set at the reaction low from the 200MA: ~ $85.90
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