Hi guys,

This is my first post here, so if there are some aspects not to your liking, please let me know.

I am a pattern trader, and today I noticed a double bottom forming and other entry signals on Walmart (WMT) :

Here is an overview of the situation and the move I will be making on it when I get confirmation:

**The catalysts :**

* Double bottom pattern
* 50 day moving average (MA) breakout.

Now, when there is more than one signal forming on a single stock, the probability of the trade going your way is much higher than when there is just one signal.

**The play**

Today I will wait for confirmation of the breakout (the stock trades higher than yesterday's close) and I will enter using the following **setup:**

**Entry price :** 140$ (breakout confirmation)

**Stop loss :** 137.5$ ( half way through yesterday's bar - breakout failure - setup not valid anymore)

**Risk :** 2.5$/sh

**Target :** 147.5$ ( the next resistance level, also the target level of the double bottom)

**Profit :** 7.5$/sh

**Risk/reward :** 3:1

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**Screenshot**

https://preview.redd.it/qliqrdq99jr61.png?width=1540&format=png&auto=webp&s=d9e9dd5a19dc523494cda503e92cbc88d1ac4069

**TLDR:**

**Enter:** 140$

**Set Stop loss :** 137.5$

**Set limit sell:** 147.5$

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**Edit :** some are complaining that the short interest data is wrong. I edited it out , but it's ok, this setup is not dependent on a squeeze happening for it to succeed.

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**Disclaimer : this is not a financial advice, just technical analysis.**