Another interesting pattern has signaled an end of the correction. After the Island pattern, we can see now a symmetrical triangle, formed near the trend line and the lower line is in a very good demand zone. It was confirmed by a breakout over it's upper line. This might get the price back to the tops, especially that the triangles target is at 76.21. The...
Looks like Double-top at 69.50
Therefore:
Short @ 68.75, with Stop-Loss set at 70. Target = $65
Mechanics:
Buy-to-Open: Feb 70 put
Sell-to-Open: Feb 65 put
Net cost = around $1.50
Potential Reward = $5 - $1.50 = $3.50
If stock falls below $65 before 3rd Friday of feb 2013, we will collect $5 (the diff between the strike prices)
This is from last friday. There are some obvious supports and resistances that seem to position them selves at every 1/10th of a dollar. After the third support (marked orange) the share price took a dive. And the went straight back up again. The idea was to try to find a pattern and a signal line which could have indicated when one should buy and sell if he...
Clear Momentum shift.
Severe Money Flow Divergence.
Double top Pattern
Trend strength is low and DMi Cross is imminent
Bearish Sell signals will be triggered with a break below trendline.
Disclosure: This is not a buy recommendation. This is an example of a possible trade I would/could make responsible for my own account. I am using tradingview.com as a forum to post my ideas about possible trades and learn from the ideas of others. Please comment my opinion and discuss with me this trade possibility. I am not a financial advisor or an analyst. I...
WMT should head to the short side after a quick test of resistance. The stock has hit all-time highs, and like a runner, it has only taken two breaks in 2012. It's due for a pull-back.
