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SmarTrend Watching for Potential Pullback in Shares of Wal-Mart Stores After 1.16% Gain

By Nick Russo

Wal-Mart Stores (NYSE:WMT) traded in a range yesterday that spanned from a low of $74.11 to a high of $74.97. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $74.38 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Wal-Mart Stores has traded in a range of $56.30 to $79.94 and is now at $74.91, 33% above that low. Over the past week, 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 February 17th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.24. Since that recommendation, shares of Wal-Mart Stores have risen 7.0%. We continue to monitor WMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders wal-mart stores

Ticker(s): WMT