WALMART: Forming a Megaphone Top. Sell signal.

Walmart is fairly bullish on its 1D technical outlook (RSI = 59.199, MACD = 0.980, ADX = 43.049) as the price is near the top of the 2024 Bullish Megaphone and has been forming a top since the September 16th High. This slowdown can be seen on the two prior top formations and is more obvious on the 1D RSI which prints a Channel Down when the price peaks on a Channel Up. This Bearish Divergence is the signal we need to go short next week. We aim for just under the 1D MA50 (TP = 77.50) or take the profit if the RSI hits the buy entry line first.

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##