Trade if WMT breaks 74.05, LONG till 80.61 SL 73.5
Nice, bull candle closed near highs,that resolved wedge with bunch of inside, choppy and noisy candles. Lets see to what it leads, need to hold breakout point at $76.90. As markets recent momentum remains neutral to negative and long-term macro picture in Wal-Mart is neutral it makes probability of this trade lower. I manage probability of trades with tier...
We note that price has been trading along bullish uptrend line, from Aug 2011 to May 2013. However price has been consolidating sideways since June 2013 until now. We note a possible Diamond Top Formation close to breaking out. The breakout will likely happen after price manages to trade and sustain below 75.00. The objective of the pattern will be to reach...