Reader Request: Wal-Mart Chart

By | May 17, 2015

A reader asked if I would take a look at the Walmart chart.

Shares of Wal-Mart (WMT) traded in a horizontal channel for most of 2014 before breaking above channel resistance in November and rallying into year end. They reversed course quickly, however this year, and are back retesting the resistance-turned-support level.


On the daily chart, the RSI is moving above its centerline and the MacD has made a bullish crossover, reflecting positive price momentum, and Chaikin money flow has moved above its 21 period average and is tracking towards its centerline, suggesting improving positive money flow.


Currently, Wal-Mart is in a neutral zone, where the parameters of a breakout or breakdown are defined by a close above the major moving averages or below the recent lows.

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