Keeping this here as a reminder. I won't buy in unless it gets to $1.92, currently at $2.21. $1.92 would be an 88.6% retrace from the $1.70 previous low (which I will use as a stop/loss if I get in this trade).
Stimulus building opportunity for this morning is GO. Bullish Butterfly Harmonic pattern. Has hidden bullish divergence on the daily, momentum is positive. Reaction to the price action at the pattern completion zone has retested an old gap fill from June as support & bounced off of it. Stop/Loss would for me would be $34.64, first target $39.72, 2nd Target...
It's in a downward trend. But it's at level of support that has resulted in uptrends previously. The indicators look good on the MACD & the RSI. Should jump from the local high to low retrace of 50% $4.93. I'd set a stop/loss at $4.25 to limit risk. This should be a quick turnaround.
I think a buying opportunity may exist on Walmart. $124.55 would be the pattern completion zone. It still needs to decline another $6, and this will take some time as it is oversold on the RSI. But that's my entry target.
I like this company. It can have scam wicks going higher than my targets, but this is a very low risk set up right now. Set the stop loss @ $1.73-$1.70. It's pretty over sold, bottom of channel. All news has been good, like most things last week suffered. It's probably a quick 50% bump.
From the covid crash to it's peak made a 78.6% retrace. Since then it has moved up to critical fib retracements, moved down testing & retesting support before moving up to the next fib retracement. It is once again showing hidden bullish divergence on the MACD. I'm setting my stop/loss at $4.97 with targets of $6.13, $6.75, and if you're really aggressive $7.52...
Many times you see an action cause an over reaction in the markets. WWE, missed earnings, probably sold off too much. MACD is showing hidden bullish divergence. Easy trade to manage risk, 10:1. Stop loss is $45.77, the low of the sell off. Target is a 50% retrace from the high to low (Dow Theory).