With the market falling apart, WMT was dragged down last week to break down below its 200SMA.
With Monday's snap back, the stock may finally be ready to go higher.
Closing above 88 and then above critical resistance at 90... would be a strong confirmation of an intermediate term bottom for this stock.
If the market (especially the Dow Jones) starts to make its way back towards the highs, WMT is a great candidate to go long. Recent bounce from the 200MA is showing legs thus far, and with a supporting market, we could see a rally to challenge the earnings gap at ~$97-98.
Confirmation that the trade is progressing well: watch for strong up days, exceeding the...
