Good earnings spur WMT to first fib target!

Asphen

05-17

Price action (Update 17 May 2024)

- A counter been tracking since early 2023 but only went in Nov 2023 with the big gap down from earnings

- Rode the gap down on 16 Nov 2023 and had been accumulating since en route to the latest earnings

- Analysis shows WMT tends to react positively after a big gap down (previous one back in 18 May 2022)

- Nov 2023 pullback was to the good support level (white box)

- Been selling puts and accumulating shares since

- Earnings gapped up to first fib resistance 64 (price action on 16 May 2024)

- Target remains 67.82 and 70.25 and then 71.46

My plays

- Will close multiple sold puts today

- Had also set a sold call which will call away some shares on 17 May 2024 at good premium + cap gain

- Will hold on remaining till the target of 70/71, accumulating further if it gap fills the gap on 16 May 2024

- Like support levels of 56 and 59

Good luck, all!

WMT Daily - 17 May 2024

@melson @TigerStars @macroB @CaptainTiger @Deposit

$Wal-Mart(WMT)$

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Comments

Deposit
05-17
Deposit
thank you
- Asphen:
  yay!
melson
05-17
melson
[Happy]🛒
- Asphen:
  yay! part of my consumer Staples diversification.

Leave a comment

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What news/movements are worth noting in the market today? Any stocks to watch? \n2. What trading opportunities are there? Do you have any plans?\n🎁 Make a post here, everyone stands a chance to win Tiger coins!","image":"https://static.tigerbbs.com/cd8eaff2e99964ab7a80d92cc196fcd3"}],"images":[{"img":"https://community-static.tradeup.com/news/2fbf8f9841644cbd3cf4a565a0b43a6e","width":"1280","height":"649"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/2fbf8f9841644cbd3cf4a565a0b43a6e","width":"1280","height":"649"}],"title":"Good earnings spur WMT to first fib target!","html":"<html><head></head><body> \n<h3>Price action (Update 17 May 2024)</h3>\n- A counter been tracking since early 2023 but only went in Nov 2023 with the big gap down from earnings\n- Rode the gap down on 16 Nov 2023 and had been accumulating since en route to the latest earnings\n- Analysis shows WMT tends to react positively after a big gap down (previous one back in 18 May 2022)\n- Nov 2023 pullback was to the good support level (white box)\n- Been selling puts and accumulating shares since\n- Earnings gapped up to first fib resistance 64 (price action on 16 May 2024)\n- Target remains 67.82 and 70.25 and then 71.46\n \n<h3>My plays</h3>\n- Will close multiple sold puts today\n- Had also set a sold call which will call away some shares on 17 May 2024 at good premium + cap gain\n- Will hold on remaining till the target of 70/71, accumulating further if it gap fills the gap on 16 May 2024\n- Like support levels of 56 and 59\n \nGood luck, all!\n<img src=\"https://community-static.tradeup.com/news/2fbf8f9841644cbd3cf4a565a0b43a6e\" tg-width=\"1280\" tg-height=\"649\">WMT Daily - 17 May 2024\n<a href=\"https://ttm.financial/U/4123471905369072\">@melson </a>&nbsp;<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars </a>&nbsp;<a href=\"https://ttm.financial/U/3560858852313727\">@macroB </a>&nbsp;<a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger </a>&nbsp;<a href=\"https://ttm.financial/U/3577700186071729\">@Deposit </a>&nbsp;\n<a href=\"https://ttm.financial/S/WMT\">$Wal-Mart(WMT)$ </a>&nbsp;</body></html>","htmlText":"<html><head></head><body> \n<h3>Price action (Update 17 May 2024)</h3>\n- A counter been tracking since early 2023 but only went in Nov 2023 with the big gap down from earnings\n- Rode the gap down on 16 Nov 2023 and had been accumulating since en route to the latest earnings\n- Analysis shows WMT tends to react positively after a big gap down (previous one back in 18 May 2022)\n- Nov 2023 pullback was to the good support level (white box)\n- Been selling puts and accumulating shares since\n- Earnings gapped up to first fib resistance 64 (price action on 16 May 2024)\n- Target remains 67.82 and 70.25 and then 71.46\n \n<h3>My plays</h3>\n- Will close multiple sold puts today\n- Had also set a sold call which will call away some shares on 17 May 2024 at good premium + cap gain\n- Will hold on remaining till the target of 70/71, accumulating further if it gap fills the gap on 16 May 2024\n- Like support levels of 56 and 59\n \nGood luck, all!\n<img src=\"https://community-static.tradeup.com/news/2fbf8f9841644cbd3cf4a565a0b43a6e\" tg-width=\"1280\" tg-height=\"649\">WMT Daily - 17 May 2024\n<a href=\"https://ttm.financial/U/4123471905369072\">@melson </a>&nbsp;<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars </a>&nbsp;<a href=\"https://ttm.financial/U/3560858852313727\">@macroB </a>&nbsp;<a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger </a>&nbsp;<a href=\"https://ttm.financial/U/3577700186071729\">@Deposit </a>&nbsp;\n<a href=\"https://ttm.financial/S/WMT\">$Wal-Mart(WMT)$ </a>&nbsp;</body></html>","text":"Price action (Update 17 May 2024) - A counter been tracking since early 2023 but only went in Nov 2023 with the big gap down from earnings - Rode the gap down on 16 Nov 2023 and had been accumulating since en route to the latest earnings - Analysis shows WMT tends to react positively after a big gap down (previous one back in 18 May 2022) - Nov 2023 pullback was to the good support level (white box) - Been selling puts and accumulating shares since - Earnings gapped up to first fib resistance 64 (price action on 16 May 2024) - Target remains 67.82 and 70.25 and then 71.46 My plays - Will close multiple sold puts today - Had also set a sold call which will call away some shares on 17 May 2024 at good premium + cap gain - Will hold on remaining till the target of 70/71, accumulating further if it gap fills the gap on 16 May 2024 - Like support levels of 56 and 59 Good luck, all! WMT Daily - 17 May 2024 @melson @TigerStars @macroB @CaptainTiger @Deposit 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