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SmarTrend Watching for Potential Pullback in Shares of Wal-Mart Stores After 1.15% Gain

By David Diaz

Wal-Mart Stores (NYSE:WMT) traded in a range yesterday that spanned from a low of $77.90 to a high of $79.46. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $79.10 on volume of 5.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Wal-Mart Stores. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Wal-Mart Stores in search of a potential trend change.

In the past 52 weeks, Wal-Mart Stores share prices have been bracketed by a low of $65.28 and a high of $81.99 and are now at $79.14, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

Keywords: rebounders wal-mart stores

Ticker(s): WMT