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  • Swing Options Tips – (WMT) – May 5, 2020

    May 05, 2020 Swing Options Tips Comments Off on Swing Options Tips – (WMT) – May 5, 2020

    Our bullish trade for Tuesday, May 5th is WMT (Walmart Inc). WMT is part of the Consumer Staples Sector (XLP). XLP has experienced a 4.86% gain in the last month and it has recently pulled back to $57 support. 

    WMT’s 1M trend turned neutral yesterday and price has retraced to the $120 support level recently providing a good bullish opportunity. With a technical score of 9 (out of 10), WMT is a very strong stock that will likely continue higher.

    As a stop loss, if WMT were to trade below $119 for multiple days, this would invalidate our analysis and we. would consider cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $6.48.

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