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Showing posts with label WMT. Show all posts
Showing posts with label WMT. Show all posts

Tuesday, November 25, 2014

Elliott Wave Analysis of Walmart (WMT)

The recent strong move suggests Walmart could be approaching a significant top, with sentiment now very bullish, that would align nicely with a terminal 5th wave from a triangle 4th wave. The sideways price action over the last year or so has created what seems to be a triangle, so the thrust to the upside is the expected move, triangles are commonly seen in the 4th wave position of a 5 wave impulse move,

If this idea correct we are likely on the cups of a significant reversal. A strong break back under 80.00 would suggest a possible peak to wave [5].

The 1st target is the $70 - 72 area.