Price action confirms a bullish inflection: the 50-SMA (109.70) sits meaningfully below the 200-SMA (118.49), but momentum has carried price back above both, with RSI(14) at 64.20 showing strength without yet reaching overbought extremes. MACD at 3.11 remains above its signal line at 2.73, confirming positive momentum continuation. The tightness between spot and the 200-SMA, however, means the thesis is binary — hold the line and the trend extends, lose it and the reclaim fails. The 8.3% gap between the two SMAs offers a clear structural floor at 109.70 should pressure build.
Thursday Playbook — Top 5 Setups
The day's five highest-conviction setups, ranked by technical inflection, profit-probability, and trade quality — 5 long, 0 short. Trade your plan and manage risk first. Also screened: $RBLX, $COST, $FIG, $TSLA, $QCOM, $LIN.
5 of 5 plays
WMT trades at 118.77, sitting just 0.24% above its 200-SMA (118.49) while holding well above the rising 50-SMA at 109.70 — a classic reclaim-and-retest setup where the longer-term trend line is being converted from resistance into support.
EntryPreferred add zone 118.49-119.25 on a successful retest hold of the 200-SMA; chase entries above 120.00 only on a daily close that confirms breakout.
Targets122.50 (prior swing-high resistance / short-cover zone) → 126.00 (measured extension from the 50/200 SMA base)
StopDaily close below 117.50 invalidates the reclaim, signaling the 200-SMA has flipped back to resistance and the move was a failed breakout — covered-call writers should re-strike or roll on this break.
Educational only. Not financial advice.