SUMMARY
Here is a long term chart of Walmart (WMT) spanning over 30 years. Elliott Waves states that the actionary fives and the reactionary threes is a motive fractal that occurs at all degree of trends and at all times. So, even within the immense span of over 30 years, Elliott Waves progress. The chart shows that all five waves could be complete. What happens after five waves are placed? There is a requisite correction. Would you be an aggressive buyer of WMT at this stage? Or would you doing profit selling?
The symmetrical triangle (blue) was an ideal pattern for wave 4. This pattern often precedes the starte of a wave 5. Price has also declined significantly since the wave 5 marking level and that has been labeled as red A. MACD seems a bit oversold and so a prime time for a red B wave bounce can be expected. Wave C should reach towards the prior wave 4.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
