A trend continuation may be coming soon as Walmart looks to be bottoming out. A few more days of this rounding out formation and it should be good for a long. Also note the low volume pull back (not a lot of selling pressure).
I am not long WMT yet, just observing. Looking for an entry in mid $135 range. Support at $135 so stop loss would be around 134 to give it wiggle room. Minimum target would be near its short-term resistance right now around 138.80-140. However, a break out could send it back to new highs. The fundamentals also support a move higher.
- Andre, StockBros Research
I am not long WMT yet, just observing. Looking for an entry in mid $135 range. Support at $135 so stop loss would be around 134 to give it wiggle room. Minimum target would be near its short-term resistance right now around 138.80-140. However, a break out could send it back to new highs. The fundamentals also support a move higher.
- Andre, StockBros Research