Traditional Technical Analysis would expect a pullback to the old resistance now new support around the $72 (0.75 fibo) handle.
A wave advance breaking out of the larger degree channel. Channeling is a very simple but powerful technique when used correctly and it enhances the Wave Principle greatly. WMT should push up higher before another pullback.
The break of the lower trend line of the impulse channel might be warning of a throw over if price reaches the lower trend line of the impulsive channel.
Target 0.618 Fibonacci Retracement around the $69 in 479 days.
Ciprian,
google.com/+CiprianPopaIoan
A wave advance breaking out of the larger degree channel. Channeling is a very simple but powerful technique when used correctly and it enhances the Wave Principle greatly. WMT should push up higher before another pullback.
The break of the lower trend line of the impulse channel might be warning of a throw over if price reaches the lower trend line of the impulsive channel.
Target 0.618 Fibonacci Retracement around the $69 in 479 days.
Ciprian,
google.com/+CiprianPopaIoan