BIDU, DG, WMT updates 05/17

Updates on a few regular golden oldies, which are mostly trucking along nicely as anticipated in earlier updates, per member requests 🙂 

BIDU: Counts best as (green) minor-3 of (red) intermediate-v of (black) major-3 of (blue) Primary III underway. Ideal target zone is around $300-310. Minor-4 should then retrace back $285-275 before minor-5 takes price to the 161.8% extension at $330. Etc.

BIDU monthly

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DG: Trucking along nicely per the more Bullish count. Should now be in (grey) minute-v of (green) minor-3 of (red) intermediate-iii of (black) major-5 of (blue) primary-I. Ideal target for minor-3 is around $115, then minor-4 down to around $105, and intermediate-iii should top around $120, etc. Thus, as long as price remains above the black up trend line, this is a nice long for a ~$15/share gain potential. Stop can be placed just below $90/85 depending on comfort level.

DG monthly

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WMT: Counts still best as being in (Red) intermediate-iv of (black) major-5 of (blue) Primary-V, and the Bulls must make a stand here as price is now in the initial support zone. A close below $85 targets $80/75. A cross with the intermediate-i high at $72.25ish means the ALTERNATE count is operable: Primary V peaked. Hence, watch this carefully going forward.

WMT monthly.png

Especially since price has lost 200d SMA support which means it’s in my book trending down longer term. The MACD however looks Bullish, but price needs to react to it soon and get above the 200d SMA to suggest indeed the low is in. Note the c=1.618x extension was reached. For now I count it as an a,b,c down, but if we get a move back to the 100% extension and than a drop to the 200% (not shown) at $77.95 we than have a classic 5 waves down and thus the alternate count is operable.

WMT DAILY