Bearish Signals On Wal-Mart
James Sackey | Apr 17, 2018 01:10AM ET
Several indicators are showing bearish signals on Wal-Mart (NYSE:WMT) ranging from daily to monthly charts. The stock price has been recently trading below its moving averages (20 through 200) along with weak RSI, price range in the lower Bollinger Band® area, and range trading since its recent fall to bearish territory (20%+ off its year high).
With stronger than expected wage growth in January and, more recently, international trade woes resulting from tarrifs and tough rhetoric from the Trump administration, WMT has experienced some seriously rough waters only to stabilize in the last few weeks in a $5 range channel between $90 and $85. This is a key long-term support level for the retailer. However, signs are showing that a breakdown in price may occur over the next couple weeks which will signal even greater depth for the consumer giant.
WMT chart below shows a bearish descending triangle along with long-term support trend line.
Get The News You Want
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.