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WMT First Price Target Hit, Booking Full Profits

WMT (Wal-Mart Stores, Inc) has hit T1, resulting in a total return (including the 0.49 dividend paid out on Monday) of 9.1% since the entry on Nov 4th. While Growth & Income investors might considering raising stops to hold out for additional gains, I have decided to book full profits & make this the official final target for this trade.

WMT daily Jan 6th

WMT daily Jan 6th

WMT was a Growth & Income Trade with the entry posted on Nov 4th, listing 3 potential price targets at the time. Based on both my near-term bearish bias for the broad market as well as the fact that a reaction is likely on this initial tag of the primary downtrend line on WMT, this trade will be moved to the Completed Trades category without any further updates. Once again, longer-term traders or investors could certainly consider raising stops to protect profits while allowing for the possibility of additional gains, should the stock go on to make a solid breakout above this downtrend line in the coming days or weeks.

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Jan 6, 2016 10:06am|Categories: Completed Trades - Long, Growth & Income Trades- Completed|Tags: |Comments Off on WMT First Price Target Hit, Booking Full Profits