[12] WMT, TRV, CSCO
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Second of the week! Let’s review a few more names:
Walmart Inc. (NASDAQ: WMT)
WMT closed the month just above the 2.618 Fib extension at 111.72. Moreover, it broke out of its descending channel consolidation on the daily.
Bears also failed to fill the 109.58-110.36 monthly imbalance or the 115-116 weekly imbalance. This increases the likelihood of continuation into the next Fib extension at 149.11.
If WMT loses the 115-116 level, then it could see a deeper pullback into the 111.72 Fib once more.
The Travelers Companies, Inc. (NYSE: TRV)
TRV is trading in an ascending channel, while consolidating in a near-term descending broadening wedge pattern.
If it breaks out of the wedge pattern, it's likely headed back into the channel resistance. Note the next Fib is much higher - sitting at 384.66.
Otherwise, watch for a retest of 267.14 Fib extension - 269.56 prior ATH. Next earnings is in April.
Cisco Systems, Inc. (NASDAQ: CSCO)
CSCO has been in long-term recovery mode, and is now nearing the 2000 dot-com bubble prior ATH at 82. It recently broke out of the red resistance trendline.
It’s possible that CSCO will hit new ATHs, provided that it doesn't lose the dark green support trendline and the 73-76 monthly support.
Should CSCO be unable to hold 82, then it likely ranges back to the monthly support. A deeper pullback to the 69-71 monthly imbalance is possible if 73 is lost.
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$Wal-Mart(WMT)$ $Travelers(TRV)$ $Cisco(CSCO)$ $Apple(AAPL)$ $Netflix(NFLX)$
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