This post was just published on ZYX Buy Change Alert.
WMT is long from $57.76. 30% of the full core position size is being held. As of this writing the stock is trading at $60.85.
WMT is up today by about 5%. The company reported earnings better than the consensus.
According to our algorithms, a significant part of the up move today is not real buying but short covering.
The new buy zone is $53 to $57.56. Target zone remains $76 to $82. Stop zone remains $42 to $44.43.
What To Do Now?
Those in the stock may consider taking profits on one-half of the position in the zone of $60.58 to $61.83. Consider holding the rest and adding more on a dip into the new buy zone to build up to 40% of the full core position size.
Those not in the stock may scale in on a dip into the buy zone.
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