timwest
Long

Wal-Mart Stores WMT Daily - Bullish Terminal Triangle target 79+

NYSE:WMT   WAL-MART STORES INC
265 3 4
Wal-Mart has lagged the market ( S&P500             ) and could be about to play "catch-up" since it has fallen into a pattern that implies that sellers have been blowing out of their long position and the psychology around the shares should be nearly completely bearish . The persistent lower-lows and smaller bounces puts bullish market participants into a daze of disappointment and encourages bears and short-sellers to put on their biggest positions.

It looks like WMT             is due for a "squeeze" rally to return it to its last 3-month high, or just to the highest range of the last rally high. Either way, outright long WMT             or PAIRED with a short in the S&P500             ( SPY             ), is a good way to go. Risk is roughly 3% (using 1% ATR and risking 3 x's a typical ATR of 1%).

Tim 7/2/2014 10:11AM EST 75.69 last +0.41
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thanks for sharing
+1 Reply
timwest PRO
2 years ago
I didn't mean to include the ATR in the chart - either way - it is just informational to size your position. Use 3x's the ATR to place at least some protective stop on the position from your entry.
Reply
Chukkala
2 years ago
Thanks for the Chart
+1 Reply
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