I came across this idea on @RealVision. I don't take trades that other people mention without my own analysis confirming what I'm hearing. I agree and added to the analysis. Firstly, I like Walmart, I shop there. I'm bias towards the company in that fashion. I see economic slowdown and people tend to lighten up on the sundry items where they can...enter Walmart. Price is showing a continuation Ascending Triangle , a few points here. It's a textbook climax as price settles into the triangle, adding to that a shortfall where bulls are not allowing price to relax back to the rising support of the triangle. This stock offers a 2% dividend yield and lets be honest, it's not going anywhere soon. Sure, it's not glamorous and the word "crypto" can't be tossed around, but I would think a break to the upside and profit potential. One can "use" the height of the triangle and project upward to get our target, or sit on this stock for years to come. 1-2% Risk, 2:1RR - Happy Trading!
Comment:
Price has broken the beginning of the resistance area, strong upward movement, encouraging for a break to the upside.
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.