I bottom fed WMT somewhere down in the low/mid 80s because I did not believe the “death by Amazon” hype and because the chart seemed to be setting up a low risk opportunity. I then sat with it like a mother hen until the big earnings-instigated blast upward (surprise, Walmart is just fine). But then I got a little wigged out by the drop below the red dotted line I’ve drawn here and took the profit.
More recently as noted in the NFTRH+ Charts & Notes segment I began watching to see if that morphed into a bull flag to test the SMA 50, and bought it last week on that prospect. After grappling with the SMA 50 WMT is breaking the flag upward today. Not bad.
Let’s see if we get some volume and follow-through. Maybe the machines will see it and kick in some Algos.
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