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  • Swing Trade Idea (WMT) – April 20, 2023

    Apr 20, 2023 Swing Options Tips Comments Off on Swing Trade Idea (WMT) – April 20, 2023

    Our bullish trade for Thursday, April 20th is Walmart Inc. (WMT). WMT is part of the Consumer Staples Sector, which is slowing down with WMT also experiencing some resistance for continued bullishness.

    WMT has recently made a lower high as it found resistance around the $150 level. As it reached a level of exhaustion we expect WMT to pull back lower, over the period of this trade, with the next support at around $146 and then $144.

    As a stop loss, if WMT were to trade above $155 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We also want to consider cutting losses on this options trade if the value of the vertical spread moves below $1.58.

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