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

The Daily View for Wal-Mart

  • At the moment, WMT’s price is down $-0.59 (-0.44%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • 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 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 moment, WMT’s price is up $0.97 (0.72%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Wal-Mart has now gone up 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 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 WMT Breaking out you may find interesting:

WMT has dropped below the 200 MA and now price has met support andraised up through the 20 day average indicating a a change in direction. Previous high is price target

Loki67