BY LICIA LESLIE
December 20, 2023
Hi Shoppers,
After being slammed after their earnings report and then enduring a further selloff, Walmart (Ticker: WMT) may be ready to rally.
It has closed above my pretty decent old support/new resistance level (blue line) and the 200 day moving average at $155.09.
The next stop for WMT will be those most recent highs at $159.
Looking at the options:
I like the Jan19 157.50 calls.
Use that nice close stop loss level of the 200 day moving average at $155.09.
Trade Review
S&P Emin Futures (Ticker: ES) has cleared my resistance level at $4792 (new support) and is trading 30 bucks higher. Next stop $4906.50.
I called $409 on the Invesco QQQ Trust (Ticker: QQQ). They closed $409.16 yesterday. Again now the new support level. I am not seeing resistance until $439 from here.
Apple (Ticker: AAPL) still wallowing. Need a close over $200 then up to $207. Otherwise lower.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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