Individual Stock Trades: SBUX, WMT & DAL

Let’s look at a few potential setups as we navigate earnings.

Follow @MrTopStep and @BretKenwell on Twitter and please share if you find our work valuable.

Intro

The OP was getting a little long this morning, so we decided to do a separate batch. You know the rules — read the disclosure, focus on the setups that suit your style & timeframe and put your pizzazz on it!

SBUX

No guarantees here, but SBUX with doji close on Monday, holding its key moving averages. Recently broke out over downtrend resistance too.

Aggressive bulls can get long if we go daily-doji-up over $101.81. However, keep in mind the gap-fill level and monthly-up zone between $102.50 to $102.90. That presents a failure risk (as it’s current resistance).

However, a move over this zone creates a notable rotation, opening the door potential to the $105.50 level, then $107.50 to $108. On the downside, you want to see a daily close above $100.

WMT

We knocked a few bucks out of Walmart a few weeks ago, as it retested the $153.50 support area. Holding that zone now, you can see its significance on the weekly chart.

If we go weekly up over ~$156, it could put $158+ back in play, then potentially $160+

$3 buck stop if we see that setup take hold.

DAL

Another multi-timeframe setup here with DAL. Inside day as DAL sits on the 21-day moving average and a big prior support zone.

Now we could definitely see some more pressure in this name, as we are just tapping the top of the zone and it’s had a big move. However, daily-up over $47.20 could ignite another long.

Stop would be $45.75 in that scenario. $47.50 to $48 is the first upside target.

Disclaimer: Charts and analysis are for discussion and education purposes only. I am not a financial advisor, do not give financial advice and am not recommending the buying or selling of any security.

Remember: Not all setups will trigger. Not all setups will be profitable. Not all setups should be taken. These are simply the setups that I have put together for years on my own and what I watch as part of my own “game plan” coming into each day. Good luck!