Expecting WMT Bullish Reversal - Update 3

Normally I include targets in my posts but I haven't yet on this one. I'm really not sure yet but I do see some possible targets. Here they are in ascending order:

• 145.11) 38.2% Fib of the yellow range.
• 146.43) 50% Fib of the yellow range.
• 147.74) 61.8% Fib of the yellow range.
• 149.61) 78.6% Fib of the yellow range.
• 151.90) Trend line.
• 155.03) 127.2% Fib of the yellow range.
• 156.71) 127.2% Fib of the green range.
• 158.16) AB=CD 140.86+(152.00-134.70)
• 158.88) 161.8% Fib of the yellow range.
• 162.69) 161.8% Fib of the green range.

Of course, none of these are guaranteed. We could start tanking on Monday. But if I hazard a guess now, I'd say the confluence of the AB=CD at 158.16 and the 161.8% Fib at 158.88 looks good.

In addition to the confluence, if price is making a swing low here, then we're reversing in the middle of the channel we're in rather than the bottom of the channel. That would be Bullish.

Also, Stochastics are still oversold. So we have a long runway to the upside based on that. And, it has a slight upward slope over the past couple days. In fact, you'll notice while the Stochastics are sloping upward the past couple days, the candle lows are sloped downwards. That's a Positive Stochastics Divergence, which is very Bullish.

And on a fundamental basis, which I try to ignore, Walmart's quarterly Earnings Report on 11/16/21 was considered very good and analysts were surprised the stock went down. I'd guess it was a Wall Street manipulation to fill the gap. Also, I think the strong inflation we obviously have will increase traffic to Walmart for quite some time. If these fundamental reasons are true, they'll provide a tailwind to Walmart's stock.

But, I'm not confident at all about a target at this point, just an opinion we're heading higher based on technical analysis. This being the case, I picked a price range for a Vertical Call Spread that I thought would be within the up leg I think we're starting, and had an expiration date that gives us enough time for the price action to reach its swing high, far enough in the future to limit the Theta time decay, yet not so far as to limit the Gamma. As you know from the original post in this thread, I picked the December 145/150 for about $1.00 each.

Soon as I bought the options, I entered an order to sell them at $4.95, which represents the maximum valuation of the spread other than holding to expiration. 

So, the bottom line is we don't need an exact target on this particular trade, at least the way I'm trading it. We just need WMT to rise high enough over 150 such that the option spread reaches a valuation of $4.95.