It has been worth the wait so far and still has room to play out more. WMT move up past the 107 mark and jumped nicely. The Oct 110 calls lept from about $2 up to over $3 today and it looks like there is more room to run. A key pattern showed up on the chart this afternoon.

Take a look:

In addition to the nice bullish candle that today’s move created we are looking at the MACD confirming a bullish crossover and the RSI moving over 50. All good signs that this run will continue. If you are looking for a cheap way to play this take the strike up a bit above the 110 options. The Oct 16, 115 calls are at about $1.35 right now and will offer a juicy payoff if this move continues with the current momentum.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily

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