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SmarTrend Watching for Potential Pullback in Shares of Wal-Mart Stores After 2.84% Gain

By Shiri Gupta

Wal-Mart Stores (NYSE:WMT) traded in a range yesterday that spanned from a low of $102.72 to a high of $103.54. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $101.15 on volume of 10.3 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 $81.78 to $106.21 and is now at $103.22, 26% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Wal-Mart Stores and will alert subscribers who have WMT in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders wal-mart stores

Ticker(s): WMT