Is Momentum Changing for Wal-Mart? Price Just Crossed Above Its 50 Day Moving Average

The Hourly View for Wal-Mart

  • Currently, WMT’s price is down $0 (0%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Wal-Mart has now gone down 5 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Wal-Mart. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Wal-Mart’s hourly price chart is shown below.

WMT

The Daily View for Wal-Mart

  • Currently, WMT’s price is down $-1.02 (-0.7%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Wal-Mart has now gone down 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between WMT’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in WMT’s price.

Below is a daily price chart of Wal-Mart.

WMT

Featured Wal-Mart Idea From TradingView

Below is a trading comment entitled WMT you may find interesting:

WMT in an Ascending Triangle and will it finally have a breakout?

praven2010