Weekly Wiretap Pick Of The Week WMT

MAX Trade Potential: 75%

My Trade Plan Details:

• WMT April 25 $94 calls around $1.80 to $2

• Stop: WMT Close below $88

• Target 1: $99
  
• Target 2: $104
  
• Target 3: $108
  

My Reasoning:

Last week we saw WMT run from $79 low to $92 area close, right at the 50 SMA. A breakout over this level and WMT has range now to $99 area before a possible gap to $104 from late February. 

For the downside, I am watching the $88 area as a must hold for this week on WMT, that should be about where the 20 SMA sits come Monday or Tuesday so I’ll use this as my stop.