Walmart Holiday Breakout Imminent?
Walmart has been consolidating in this ascending triangle for over a year now, posting consistently higher lows, but unable to clear ATH . Walmart traditionally has a very bullish holiday season and this could act as a catalyst for a break out of structure above ATH . I see two possible scenarios occurring, both bullish .
If we continue to see similar volatility in price action to the most recent selloff, then we could easily break above resistance before mid December. ADX is calling a breakout on Dec 3, but if this theory is correct we would most likely see that happening before the 10th or so. The other option is we return to typical price action we have been seeing in these big moves for the past year within structure, which would put us in position for a breakout late February to early March.
If we continue to see similar volatility in price action to the most recent selloff, then we could easily break above resistance before mid December. ADX is calling a breakout on Dec 3, but if this theory is correct we would most likely see that happening before the 10th or so. The other option is we return to typical price action we have been seeing in these big moves for the past year within structure, which would put us in position for a breakout late February to early March.
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