The WMT has just touched its daily resistance for the fourth time.
Stocks tend to break out shortly after the fourth time.
The fact that the graph shows a "bull flag" strengthens my previous statement.
In addition, the MACD has-had a weak bearish momentum, while the broader market had a big bearish momentum.
However, the RSI continues to show a downward trend.
Moreover, today's candle is weak while the broad market is rising.
It seems to be rejected by the daily resistance.
My assumption is that, there will be a sudden shift in one direction or the other.
It will be due to a breakout or a false breakout.
If you are asking me, a "straddle" might be the best way to play it.
Support: 132.06, 129.79, 125.86
Resistance: 135.88, 142.08, 145.91
Stocks tend to break out shortly after the fourth time.
The fact that the graph shows a "bull flag" strengthens my previous statement.
In addition, the MACD has-had a weak bearish momentum, while the broader market had a big bearish momentum.
However, the RSI continues to show a downward trend.
Moreover, today's candle is weak while the broad market is rising.
It seems to be rejected by the daily resistance.
My assumption is that, there will be a sudden shift in one direction or the other.
It will be due to a breakout or a false breakout.
If you are asking me, a "straddle" might be the best way to play it.
Support: 132.06, 129.79, 125.86
Resistance: 135.88, 142.08, 145.91
