Walmart - Overbought & Rising Wedge Pattern

2019년 10월 23일

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.

2019년 10월 25일

노트

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.

2019년 11월 4일

매매 수동청산

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.