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dorfmanmaster
May 22, 2020 3:21 PM

Walmart channel + Fibonacci analysis 

Walmart Inc.NYSE

Description

Since late april, WMT has been in an upward channel fighting to stay above the 10sma.

The 50 & 200 simple moving average also line up closely with the 38.2% & 50%fibonacci retracement level, respectively.

The Bollinger Band Width, which is the difference between the upper and lower BB, is trending lower, indicating a build up in a move up or down.


Watching closely.

Comment

Retreat at the 38.2% fib retracement held better than the 50sma.

Keeping on a watchlist.
Comments
tradeBob1
The stock is neutral technically. In fact, short term bearish looking.
dorfmanmaster
@tradeBob1, I agree. That is why I'm -Watching Closely-... To find a place where I can buy lower.
tbull1220
What would you say is a good entry point
dorfmanmaster
@tbull1220, around the 38.2% retracement line, around $120.

A partial position makes sense, you can always add more
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