Friday, December 31, 2010

WMT

Right now, WMT (as a short sale) is in a low risk, high probability area.


Here's the test of the neckline resistance from WMT's H&S top. You can see MACD is ticking down and the candlestick pattern is that of a downside reversal.

3C is also showing the test as failed with negative divergences building as the test proceeded, it's now leading negative so a trade in this area with a stop above yesterday's high is pretty low risk.

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