Wal-Mart Trend May Be Changing as Price Just Breached Below Its 100 Day Moving Average

The Daily View for Wal-Mart

  • At the moment, WMT’s price is down $-0.06 (-0.04%) 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.
  • 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 $0.67 (0.48%) from the day prior.
  • Wal-Mart has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • 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 100 day moving average, resulting in them with price now being above 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 – 4HR SUPPLY AND DEMAND you may find interesting:

Whenever the WMT hit my demand lines it went up while when it hit my supply lines it went down

Beginner_Trader_Viggy