Wal-Mart Trend May Be Changing as Price Just Breached Below Its 50 Day Moving Average

The Daily View for Wal-Mart

  • Currently, WMT’s price is up $0.27 (0.2%) from the day prior.
  • Wal-Mart has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • 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.
  • 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 $3.89 (2.87%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 200 and 50 day moving averages have been crossed, with price now being above them. 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 nice V shape Recovery! you may find interesting:

WMT 1HR CHART…WMT looking nice for a recovery play to retest ATH and a nice gap fill to the upside. In a steady up trend channel looking to retest that downtrend resistance line and a possible breakout to fill the gap, also currently in a bull pennant, look out for a gap up and retest for an entry if it does.

jUiCE_Trades