vlad.adrian
Long

Wal-Mart - Bullish? Bearish? Neutral?

NYSE:WMT   WAL-MART STORES INC
158 2 4
A series of contradictions occur on Wal-Mart.

On the weekly chart, price stands at the Wave, but has not tested the strong support at 80$. The impulse is still red, and the Force Index is not yet in an oversold condition.

Looking at the daily, the situation looks better here. There is a false breakout below the last swing low, and it looks like this area could form a ledge. The impulse is blue already and the candle on the 20th is pretty bullish . The Force Index is oversold on the daily chart .

It will be interesting to see where this chart goes. The weekly is neutral, while the daily looks pretty bullish .
U dont wait for Impulse weekly to go red to blue?
Reply
No, it is too lagging. If it is blue, I am more comfortable. If it is red, I still go long, but not with the same confidence. I don't use the impulse system by the book.
+1 Reply
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