WMT - Broadening Wedge - Bearish

WMT is currently showing an ascending broadening wedge pattern on daily timeframe. An ascending broadening wedge is a bearish reversal chart pattern. Where the upper line is the resistance line and the lower line is the support line. As we can see in the chart that its moves increase with higher magnitudes. This pattern should be traded when the price breaks out of the support line.

In our opinion, it´s likely for the price to retrace and break out of the support line. When the price breaks out of the support line, a short position can be taken and the target can be targeted.

All the details are shown on the chart.

Goodluck!