Short Term Trading Member Forum

[techcharter]

WMT - Definitely Sell

WMT made one last rally. The Wave 5 is an ending diagonal since subwaves 1 and 3 overlap. Subwave 4 (october 10-11) was a triangle, so today's subwave 5 is complete with high probability. Even though the RSI negative divergence condition has weakened, its prior existence must be respected due to its longevity. Expect a sharp selloff of $2-$4 the rest of the week.


http://charts.insidestocks.com/chart.asp?sym=WMT&data=Z30&date=051406&den=HIGH&divd=Y&evnt=ADV&grid=Y&jav=ADV&size=D&sky=Y&sly=N&vol=Y&late=Y&ch1=011&arga=&argb=&argc=&ov1=&argd=&arge=&argf=&ch2=&argg=&argh=&argi=&ov2=&argj=&argk=&argl=&code=BSTKIC&org=stk