Wal-Mart Does it Again: Heads Up for the 3rd Straight Day

The Hourly View for Wal-Mart

  • At the time of this writing, WMT’s price is down $-0.36 (-0.24%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • The moving averages on the hourly 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.

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 $0.5 (0.33%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Wal-Mart has now gone up 8 of the past 10 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar 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.
  • 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.
  • 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 trade Opportunity you may find interesting:

Very simple, over 153 long/under 137 short. Wmt has also been trading in an uptrend for about 15 days so if 150 does get rejected and the 15 day trend line breaks then shorting wmt to 140 wouldn’t be a bad idea

conman625