Walmart Holds the Trendline

NYSE:WMT   Walmart Inc
Walmart has fallen by the wayside lately as investors focused on reopening stocks. But now it could be poised for a rebound as the coronavirus pandemic worsens.

The big box retailer has a trendline starting at the March lows, which was tested in early July and late October. It’s now returned to consolidate at that line.

WMT’s 50-day simple moving average ( SMA ) has also been rising and follows the trendline.

Next, its recent consolidation zone around $145-146 is near the mid-October high. That could mean old resistance is becoming new support.

Finally, stochastics show an oversold condition.

The fundamental picture is also strong, with top- and bottom-line beats the last two quarters. Its digital transformation has been successful. Now brick-and-mortar sales could enjoy a boost if vaccinations drive traffic back into stores.

Overall, WMT is a large cap and major index member – exactly the kind of stock investors have shunned recently in favor of smaller names and IPOs . However, a sense of risk may be spreading in the market as coronavirus rebounds. The result could be a return to the big and safe names like the retail giant based in Bentonville, Arkansas.

TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.


Rough day!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter