Conclusion, Investment Implications, Strategy

We exited our November 10th long idea in Walmart (WMT) this morning with a 4% profit in less than week ahead of 3rd Quarter earnings, which will be reported before the open tomorrow November 17th.

Chart 1 below plots Consumer Staples bellwether Walmart (WMT) daily since June, showing that it is currently testing formidable overhead resistance at $151.33, its Sep 2nd all-time high. 

Although more aggressive investors may elect to hold WMT through 3rd Quarter earnings scheduled to be reported tomorrow morning before the open, this overhead resistance introduces an additional element of risk that more cautious investors may choose to avoid by exiting the idea now, for a quick profit, with the potential of re-entering WMT post-earnings if risk/reward considerations are still attractive.

WMT daily since June

During the same 6-day period, WMT has also outperformed the benchmark S&P 500 (SPX) by 2.3%


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Please consult the table showing our Asbury 6 key market metrics to help determine if this investment is suitable for you.