Wal-Mart Does it Again: Heads Down for the 2nd Straight Day

The Hourly View for Wal-Mart

  • Currently, WMT’s price is up $0.4 (0.27%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns 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 choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

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

WMT

The Daily View for Wal-Mart

  • Currently, WMT’s price is down $-0.96 (-0.64%) from the day prior.
  • The daily chart shows that Wal-Mart has seen 2 straight down days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • 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

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