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Watch for Continued Gains in Shares of Wal-Mart Stores (WMT)

By James Quinn

Shares of Wal-Mart Stores (NYSE:WMT) traded today at $109.46, breaking its 52-week high. Approximately 719,000 shares have changed hands today, as compared to an average 30-day volume of 6.7 million shares.

Wal-Mart Stores (NYSE:WMT) is currently priced 9.2% above its average consensus analyst price target of $99.36. The stock should find initial support at its 50-day moving average (MA) of $101.91 and further support at its 200-day MA of $97.87.

Wal-Mart Stores, Inc. operates discount stores, supercenters, and neighborhood markets. The Company's discount stores and supercenters offer merchandise such as apparel, housewares, small appliances, electronics, and hardware. Walmart's markets offer a full-line supermarket and a limited assortment of general merchandise. The Company operates nationally and internationally.

Wal-Mart Stores share prices have moved between a 52-week high of $109.46 and a 52-week low of $82.37 and are now trading 33% above that low price at $109.46 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Wal-Mart Stores on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $94.84. Since that recommendation, shares of Wal-Mart Stores have risen 14.7%. We continue to monitor WMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows wal-mart stores

Ticker(s): WMT