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Wal-Mart Stores (WMT) Approaches New Upside Target of $118.51

By David Diaz

Wal-Mart Stores (NYSE:WMT) has opened bullishly above the pivot of $116.20 today and has reached the first level of resistance at $117.72. Analysts will be watching for a cross of the next upside pivot targets of $118.51 and $120.82.

Wal-Mart Stores (NYSE:WMT) defies analysts with a current price ($117.19) 15.2% above its average consensus price target of $99.36. The stock should find initial support at its 50-day moving average (MA) of $111.83 and further support at its 200-day MA of $102.15.

Wal-Mart Stores share prices have moved between a 52-week high of $117.96 and a 52-week low of $85.78 and are now trading 37% above that low price at $117.19 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Wal-Mart Stores on August 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $111.90. Since that recommendation, shares of Wal-Mart Stores have risen 4.5%. We continue to monitor WMT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts wal-mart stores

Ticker(s): WMT