After a period of a couple of trading sessions where WMT has taken considerable abuse on the chart. After appearing to be gearing up to make an impressive run, the stock gapped down considerably on Tuesday and the backslide persisted through yesterday.
This major selloff has brought the stock down to its lowest PPS since November, and had us thinking about a range of calls to slate for observation in the days and weeks ahead. We’re going to signal the WMT 03/16 $90-93 Calls, which should be in line for some solid activity if Walmart mounts the recovery that, at this point, looks very possible.
Hertz Global Holdings, Inc. HTZ
We would like to put HTZ on watch as a possible bounce play this morning. As you can see on the included chart snapshot, the stock is giving off a strong double-bottom signal, and just fell below its 200DMA yesterday.
We’re going to monitor the activity here closely, because as you can see, there is a considerable amount of room to run to the upside, and the stock has been approaching heavily oversold territory.
Avis Budget Group, Inc. CAR
While we’re on the subject of car rental agencies, our eye has also been caught by Avis, whose stock just came down to an area of trendline support, and also posted a Q4 earnings beat.
We’re going to look for opportunities in the CAR 03/16 $42-44 Calls in coming sessions.
AIMT, SGMO, ETE, PBR, RXMD, STMP, MLNX, MBRX