Short
Walmart - Overbought & Rising Wedge Pattern
Rising wedge pattern with RSI bearish divergence & overbought stochastic. A breakdown in price can lead to a $115 price target which is a nice support level & 100% Fibonacci level.
Note
We saw the breakdown of the rising wedge pattern on October 23rd & the price was not able to re-enter the wedge the remainder of the week. Still eyeing that $115 price target.Trade fermée manuellement
Stock price did fall after breaking down out of the rising wedge pattern. I was targeting $115.50 level but price never got down that low. The stock is now oversold & is around 50 on the RSI indicator. One could take some profits at this point & hold a smaller position to see if it continues moving down but I just closed it out completely in order to put the money into other trades.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.