A few weeks ago I shared a WMT idea, ( you can check it in my profile). It was a bullish pennant pattern, then the company released its earnings..they beat the estimates. Then it sold off massively.
Knowing the effects of the virus on Walmart... I am very bullish on this company.
The fundamentals are strong and based on TA, what we have here is a very good entry point.
A falling wedge(purple line) is forming. The support line is holding at 124.22. I expect it to break its resistance level.
My swing-trade looks like the following:
>Stop-loss: 123.46
>Take-profit: 129.32
Knowing the effects of the virus on Walmart... I am very bullish on this company.
The fundamentals are strong and based on TA, what we have here is a very good entry point.
A falling wedge(purple line) is forming. The support line is holding at 124.22. I expect it to break its resistance level.
My swing-trade looks like the following:
>Stop-loss: 123.46
>Take-profit: 129.32
