Walmart Inc.Long
WMT - Descending Wedge Reversal Play
If anyone likes playing WMT, this seems like a good play for monthlies. Forming a descending wedge into the March trend line dynamic support. Reclaimed 9 EMA on the 4H chart and starting to curl up. Trigger to enter is 146.91, as it's the line that has been long-wick rejected two times in the past few days. Breaking this level would also indicate a trend-reversal breakout from the current downtrend.
This is moreso a bottom reversal play, rather than my usual momentum/breakout play, so be sure to get far-dated contracts, and position accordingly.
This is moreso a bottom reversal play, rather than my usual momentum/breakout play, so be sure to get far-dated contracts, and position accordingly.
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