Dec. 6 at 1:18 AM
Actionable Trade Alert for
$WMT:
Market Context:
$WMT is currently trading at
$114.84, close to its 60-day high of
$114.89. The RSI of 76.51 indicates that the stock is overbought, suggesting a potential pullback. The moving averages (MA30 at 105.06 and MA50 at 104.7) indicate a strong bullish trend, but the high RSI signals caution.
Directional Bias: Given the overbought RSI, a short-term pullback is likely, but the overall trend remains bullish due to strong support from the moving averages.
Trade Plan:
- Suggested Entry:
$114.50
- Stop Loss:
$112.00 (approximately 2.2% below entry)
- Take Profit Targets:
1.
$116.00 (1.3% gain)
2.
$118.00 (3.3% gain)
3.
$135.00 (17.5% gain)
This plan allows for a substantial ROI on the third target while managing risk with a tight stop loss. Monitor for market conditions that may impact these levels.
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