Wal-Mart is Down for the 2nd Day in a Row

The Hourly View for Wal-Mart

  • At the time of this writing, WMT’s price is down $-0.31 (-0.21%) from the hour prior.
  • This is the 2nd hour in a row Wal-Mart has seen its price head down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being below it. 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 moment, WMT’s price is down $-0.29 (-0.19%) from the day prior.
  • This is the 2nd day in a row Wal-Mart has seen its price head down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 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 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 50 day changed directions on WMT; it is now pointing up. 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 Weekly Options Play you may find interesting:

Description WMT double rejection off 150, a decisive close below this level triggers a short position.Using A put debit spread, because profits are always limited by time. Put Debit Spread Levels on ChartSL > 150*…

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