Hi Shoppers,

Yesterday, Walmart (Ticker: WMT) formed a bearish engulfing candle which is a candle that signals a change in trend.

This candle is found at the top of an uptrend and completely engulfs the previous day’s candle.

It shows the longs selling their position and shorts coming in to sell.

WMT has resistance at $153.60 created by the previous high back in November.

It traded up to that resistance before making its reversal.

I will wait for a confirmation of WMT trading lower this morning for at least an hour.

Looking at next week’s puts:

I like the 150’s.

I think WMT can trade down to $147.25.

Thanks for Reading … See You Next Tuesday,

Licia Leslie