WMT Textbook cup and handle

31 Eki 2018

Conservative target is 120, as the base of the cup is 20 points below the right side of the upper most point of the cup. WMT could continue up past 150 though since it took a lot of time to consolidate and has a lot of buying pressure This is a continuation pattern of the bullish trend Walmart has been in. Even while the whole market was down the last 2 weeks WMT stayed neutral or bullish, this is a clean trade stop below the top of the cup. I luckily got in on some cheap Dec 110 calls two weeks ago when the price was about $94. There's still plenty of room left for profit on this trade though. Good luck.