Walmart had a failed daily cycle 3, currently price is seeking a half cycle high. The blue line defines weekly price decline resistance, when price closes above this line on a weekly basis we know a weekly low is behind and price is moving higher. There is a possibility price will decline towards the 200 week moving average but before that we want to see how it reacts at the support of the megaphone pattern as this aligns with the 200 day moving average. As the cycle unfolds we will be able to take risk accordingly as things become clear.
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