Read the story here. Advertise at Before It's News here.
Profile image
Story Views
Last hour:
Last 24 hours:

Is This Retail Leader Headed Lower?

% of readers think this story is Fact. Add your two cents.

On Wednesday, we looked at the daily chart of ROKU and observed that it looked ready to move back to new highs.

For today’s chart of the day, we’re going to take a look at Walmart Inc. (WMT).

WMT needs no introduction — it’s the largest retail company in the world.

Recently, the company announced the new Walmart+ plan to take on online retail giant Amazon. A yearly fee can get you free 2-day shipping on orders over $35 as well as some other benefits, such as discounted gas.

I think they’re late to the party, but hey, we’re here to look at charts, not fundamentals!

The stock shot higher on the news, but quickly became overbought as it exited the upper Keltner Channel.

Profit taking came in, and price had a fast fall back, correcting almost as quickly as it advanced.

Let’s see where WMT stands currently on its daily chart:


When price action quickly goes back on the move that preceded it, it’s a caution sign. After moving below its midline, WMT came up for a retest underneath, and has since turned down again.

This does not mean WMT has entered into a downtrend — just that it is still digesting the pullback from the last push higher.

No trade signal here.

Trade Smart,

Michael Saul
Analyst, Chart of the Day

The post Is This Retail Leader Headed Lower? appeared first on Laissez Faire.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.