WMT Walmart Monthly Chart; Overbot; Rising Wedge; Negative Divergence Developing; Upper Band Violation; Price Extended; Walmart Halts Sale of Electronic Nicotine Delivery Products

Walmart climbs up onto its high horse proclaiming itself Holier than Thou announcing that all sales of electronic nicotine delivery products will be halted. Walmart opines about the deaths due to vaping and the concern the retailer has for children's welfare and health. Comically, they release this statement; "We will complete our exit after selling through current inventory." Pause for laughter.

Self-righteous Walmart is so concerned about children using vape products, in light of the recent deaths in the US and Canada, that they will no longer sell these instruments of doom, but only after they sell the existing inventory. Cheap b*stards. WMT wants to recover their cost of goods sold so they do not lose money. Crony capitalism is always on full display in corrupt America. Walmart could not care less about children; if they did they would simply pull the products immediately and take the business loss. However, morality has no place in today's greedy and sick society.

The WMT monthly chart has gone parabolic. Price shoots from 80 to 120, a big +50% gain, over the last year. Walmart stockholders dance with glee at the big price gains and make sure that management will deliver all those vape pens into the huddled masses hands as soon as possible.

WMT has definitely cut expenses helping create the rise in price. In the Pennsylvania stores, you have to look long and hard for a sales associate for help. When you find one they are worthless only telling you to look over yonder somewhere or maybe the item is discontinued. Most have attitudes that you should have not bothered them. Obviously, expenses are cut to the bones since the stores are understaffed and the people there feel they are underpaid. This stuff may make for unhappy employees but that does not matter; stock price is all that matters and a thinner staff equates to bigger earnings, at least in the short-run.

WMT keeps moving from the lower left to the upper right. WMT longs sing songs and are carryin' on looking forward to more upside ahead. Well, at least they have a month or so more of it. Walmart is a stock topping out on a multi-month and multi-year basis just like the broad stock market. The rising red wedge is ominous; the collapses from rising wedge patterns can be epic.

The red lines show negative divergence in play that wants to spank price lower in the monthly time frame. This is occurring as price tests the upper trend line of the wedge and upper standard deviation line. The middle band is in play at 96.11 and rising. The RSI, stochastics and money flow are all overbot agreeable to a pull back. Price is extended above the moving averages needing a mean reversion lower.

Now here is the tricky part. The WMT weekly chart is in neggie d now with all its indicators so it will puke on the weekly basis. But note the long and strong MACD line in the monthly chart as well as some short-term mojo with the RSI and histo. The MACD wants a higher high in price after a pullback occurs on the monthly basis. The negative divergence red lines above in the monthly chart will conspire with the neggie d on the weekly chart to spank WMT lower now.

This retreat will be a couple or few weeks but then WMT will recover again due to the long and strong MACD on the monthly. WMT will rally again to the current highs and that should be in concert with the MACD going neggie d and the long-term multi-month and year top is likely in for Walmart, say in the October-December time frame. So this is a peak now, price will drop say to finish this month and into early and mid-October, but then rally again back to the record highs say in late October or November, then roll over and die in November or December. Of course the timing can all be fine-tuned as time proceeds.

The daily chart looks good to short now. Ditto the 2-hour chart. Keystone will short some and let the neggie d on the weekly chart and the partial neggie d on the above chart take her lower for couple-few weeks. Then the trade can be flipped long to ride it back up, then flipped short again a month or two out. Climb on your self-righteous white horse Walmart and ride through town distributing vape pens to all the little girls and boys hangin' 'round. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added Tuesday Morning, 9/24/19: WMT gains +0.6% in the Monday trade to 117.62. Management is in the parking lot selling vape pens before they are stuck with the inventory. Humans will do anything for money.