Thoughts on WMT

This is from last friday. There are some obvious supports and resistances that seem to position them selves at every 1/10th of a dollar. After the third support (marked orange) the share price took a dive. And the went straight back up again. The idea was to try to find a pattern and a signal line which could have indicated when one should buy and sell if he wanted to profit on the upswing after the dive. I noticed that if you draw a line (the green line) from the top and that touches the tip of each resistance (marked blue) it went in a straight line down to the bottom of the dive. And the red line from the first resistance through the other tops (as shown in the graph) wen straight through the ideal sell point after the upswing.

Do you think that this is something that could have predicted the movement of the share price if you would not have known the outcome (as I did). Do you think this is a pattern or purely quincidental?


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