WMT has been on a downtrend for quite a while now but now it is finding support in 114.5 area going through a consolidation phase. After two failed attempts to break downtrend last week ( albeit on low volume days), it now has three touches off support and decent accumulation at these levels. The chart is forming a descending triangle pattern near support so one in two things can happen, 1) Support of 114.5 is broken resulting in bearish continuation breaking out of the triangle to 110 support.OR 2) Support of 114.5 holds and we break above 116.10 with good volume for a bullish reversal out of the triangle. Out of all the overvalued and overextended stocks out there, WMT is a cheap buy since it has good upside potential. Retail data was good but the sector lost momentum due to Target's disappointing holiday numbers. AMZN and WMT numbers may tell us the whole story when they report earnings. I'm bullish as long as support holds. #WMT #AMZN #TGT #EBAY