Wal-Mart May Be Offering a Trading Opportunity With Its Cross Above Its 200 Moving Average

The Daily View for Wal-Mart

  • At the moment, WMT’s price is down $-0.08 (-0.06%) from the day prior.
  • This is the 2nd day in a row Wal-Mart has seen its price head 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 pin bar candlestick pattern on Wal-Mart. Given that we see downtrend on the 20 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.

Wal-Mart’s hourly price chart is shown below.

WMT

The Daily View for Wal-Mart

  • Currently, WMT’s price is down $-0.71 (-0.51%) from the day prior.
  • This is the 2nd day in a row Wal-Mart has seen its price head down.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 200 day moving average, resulting in them so that price is now turning below it. 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 LONG TRADE you may find interesting:

WMT has been consolidating on the 200MA and right at support. Looking for it to hold and bounce back higher. Already have a small starter in this play and own WMT shares from a few weeks back but I think this is a good chance to go long and have tight stops under the 200MA which is the orange line.

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