False Breakout in WMT in progress. Long term target 70/per share. Define your risk accordingly.
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WMT traded 10$ down from the TOP @ 133 Level. Move STOPS.
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Moving down nicely. Closed out WMT 128 P expiring MAY1 2020. Adjust your stops, that are well in the money now, according to your money management approach. Good luck!
Trade active
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Today WMT sold off on a positive earnings report - which is a bearish sign! The bump from " pandemic buying " was already priced into the stock price. What do we have going forward? Uncertainty ... withdrawn financial guidance for 2020 and a lot of down side risk at these ATH levels... BE SAFE!
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WMT bull trap in full swing! Prices reversed as speculated at 135 level, now down to 119. Stops should be well in the money now. Manage your trade according to your style.
there is no way it is going to go to 70. You have to be reasoonable. Don't just look at charts purely analitically. Walmart increased their sales since the pandemic. There is no way they will drop way below their pre-pandemic price unless some huge fail news comes out. Please, use some reason as well. It's almost angering to see people just look at the technicals . This is walmart you're talking about and all people are spending on right now is essential goods.
SS96
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@263e604540ac444e9975aef5b41c2b, last pandemic of this size was before Great Depression. Record unemployment levels, significantly reduced consumer spending could do some long term damage here. DYODD.
KenJi333
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A reversal now perhaps? I could see it going back up to around 128-130 before ER.
mkhoury80
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Closed out the 1 single put option I held onto from days ago... sadly still trying to cope with emotions and not panic sell (not easy) and the 1 week chart is still ominous in that it's saying the exact opposite as every other chart, and the farther out charts seem to have more gravity in their respective time durations.
Been struggling with the whole concept of "options"; it's very frustrating, like this morning I bought some in-the-money puts for another stock, and while the stock remained at its same price I had gone to being $800 upside-down... 4 hours later the stock had to drop over a full dollar in order to stop being a loss... seems heavily unfair and the odds feel heavily skewed against anyone who doesn't have the necessary resources to buy and sell the actual shares.
mkhoury80
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Wow, drop predicted a full week in advance? That's uncanny. I just started cramming how to better understand reading charts, indicators, and looking for divergence over the past week myself after taking a loss due to jumping into trading blindly. Over the weekend I opted to check some of the "beginner" stocks to trade: AAPL, WMT, FB, etc. looking for anything that looked like a good entry point, and WMT was the only one I found that looked primed and ready to go... downward, due to extremely clear divergence, as well as a "sell signal" having formed on the MACD at end of day on Apr 24 on the 12H chart and right on the cusp of doing the same on the 1D chart.
Looking at WMT all the way out like that, it took them 3 YEARS to get from $70 to $130... on this chart you're assuming $70 by end of this year?
SS96
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@mkhoury80, stocks tend to come down faster than they go up. In early 2000 WMT lost 38% in just two months, a similar decline today would put us right around mid summer and 80 ish level. I give it some room to overshoot to the downside in a panic sell. There is a buying support at the 70level.
Pridenmine
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I'm just starting to learn options. Is your opinion that this is a bull trap the same now, less now or more now?
Thx
SS96
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@Pridenmine, as of today its till sitting below recent highs @133. You have to define your risk per trade (Stop Loss) according to your trading practices.