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

The Hourly View for Wal-Mart

At the moment, WMT’s price is up $0.16 (0.13%) from the hour prior.
This is a reversal of the price action on the previous hour, in which price moved down.
As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
Price action traders may also wish to note that we see a doji candlestick pattern 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 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.

At the time of this writing, WMT’s price is down $-0.31 (-0.23%) from the day prior.
This is the 2nd day in a row Wal-Mart has seen its price head down.
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.
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.

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