Wal-Mart’s 3 Day Down Streak Comes to an End

The Hourly View for Wal-Mart

  • At the time of this writing, WMT’s price is down $-0.07 (-0.04%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward 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 $0.28 (0.19%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 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 downtrend 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.
  • 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 Walmart Analysis – Bulls you may find interesting:

An Analysis showing two periods one of stagnant sideways movement and one of large growthThe first led to a 600% gain, if repeated a 600% up move puts WMT at 262

Bixley