After Yesterday's Rally of 1.44% Shares Could Potentially Pullback
Wal-Mart Stores (NYSE:WMT) traded in a range yesterday that spanned from a low of $73.87 to a high of $75.19. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $74.01 on volume of 16.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Wal-Mart Stores have traded between a low of $56.30 and a high of $79.94 and are now at $73.94, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.
SmarTrend recommended that subscribers consider buying shares of Wal-Mart Stores on May 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $70.61. Since that recommendation, shares of Wal-Mart Stores have risen 3.3%. We continue to monitor WMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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