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

The Daily View for Wal-Mart

  • Currently, WMT’s price is down $-0.16 (-0.11%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Wal-Mart. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 100 day changed directions on WMT; it is now pointing up. The moving averages on the daily 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

  • At the time of this writing, WMT’s price is up $0.22 (0.16%) from the day prior.
  • The daily chart shows that Wal-Mart has seen 2 straight up days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • The moving averages on the daily 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.

Below is a daily price chart of Wal-Mart.

WMT

Featured Wal-Mart Idea From TradingView

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

21EMA is about to cross above 50EMA, a bullish sign once again. 9EMA is coming up to support price in the bull flag which means price is going to breakout soon. Looking for a long entry upon breakout with good volume.PT1: 142.85PT2: 146.4SL: below 139.14 if entered on breakout of bull flag pattern.

Chartpatternz