Walmart Readying Itself for EMA Correction After Island Reversal

Sep 17, 2019

WMT has been beaten around lately after a report found they were mistreating a group of 178 female workers. After a gap down, more selling off, and then a rebound just above the widely used 200-EMA, it is now seemingly gearing up for a a bullish reversal out of an island reversal chart pattern.

Green line: island reversal trajectory
Orange rectangle: Gap zone with necessary breach for bullish confirmation.

I would not enter a bullish position on WMT without seeking this confirmation first.

Sep 18, 2019

Trade closed: target reached

It entered the gap range. Profits were taken and positions are closed.