emehoke

WMT. Looking for high quality setups.

Long
NYSE:WMT   Walmart Inc
This isn't super clean as of today, but it is setting up nicely to my eyes.

For the long term buy and holders I'd say go ahead and hop in.

For those of us cursed with the necessity of using stop losses, I'd like it to get a little closer to a lower level, or to show some more upward momentum before I can find a sensible risk ratio.

For the most part I am just training my daily trend trading muscles. Hopefully doing so with quality repetitions. I see there are no earnings for two weeks so massive volatility should be out of our mind.

Cons: The 50 crossed under the 200 to the downside in what people call the death cross. I see price action is behaving very bullishly in this recent rally. It looks to me like price bottomed following negative earnings expectations, and is now on its way back up in classic bull fashion. The 200 is still sloped upward, so one could also argue this is a terrific time to buy.


**EDIT**

The markings I did on the 4HR time frame, then published on the daily. So some of the lines won't match up perfectly. But, the markings were made on the 4HR chart, not the daily.

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