Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Watch This Wal-Mart Pattern

Published 02/21/2017, 11:06 AM
Updated 07/09/2023, 06:31 AM

Retail stocks have had little to brag about over the past couple of years. But that trend -- at least for WMT -- may be about to change.

Below looks at Wal-Mart's performance over the past decade. As you can see, since the highs in early 2015, WMT has created a series of lower highs.

Wal-Mart Stores

WMT has struggled to make upside headway inside of the falling channel highlighted above. It's possible that WMT has created a “bull flag” pattern with a breakout test in play at (1).

If the stock takes out resistance, it could attract buyers for both Wal-Mart and Retail ETF (NYSE:XRT)

Full Disclosure: Premium Members are long WMT with a tight stop.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.