Wal-Mart’s Hot Streak: Up 8 of the Past 10 Days

The Hourly View for Wal-Mart

  • At the time of this writing, WMT’s price is up $0.12 (0.08%) 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 100 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly 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

  • At the time of this writing, WMT’s price is up $1.19 (0.81%) from the day prior.
  • Wal-Mart has seen its price go up 8 out of the past 10 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • Of note is that the 200 day changed directions on WMT; it is now pointing up. 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.

WMT

Featured Wal-Mart Idea From TradingView

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