• David Yocum

Stock Chart of the Week - 10/3/22 to 10/7/22

There are very few setups I am highly confident in heading into next week. With that being said, I will likely be sitting in cash most of next week unless some new setups begin to present themselves. For this week's stock chart of the week, I will be choosing $WMT (Walmart). I like Walmart for a short position here as the price is still below that key 134-135 level. The weekly EMAs have also flipped bearish which has acted as resistance here the last month or two.

Walmart is a very low-beta name so this may take some time to play out and won't be a "fun" position to hold.

 

I did want to mention an interesting note of seasonality from Andrew of Pristine Capital. This will be something we can keep in mind as we look for setups in the coming weeks. If the bullish seasonality of a mid-term year goes for this year, I may look to find some early bullish crossovers throughout my scans.

In conclusion, be safe, manage your risk, and wait for setups to develop.

 

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