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Wal-Mart Stores (WMT) Breaks Through Support at $106.51

By Nick Russo

Wal-Mart Stores (NYSE:WMT) has opened bearishly below the pivot of $107.48 today and has reached the first level of support at $106.51. Analysts will be watching for a cross of the next downside pivot targets of $105.73 and $103.98.

Wal-Mart Stores (NYSE:WMT) is currently priced 6.0% above its average consensus analyst price target of $99.36. The stock should find resistance at its 50-day moving average (MA) of $110.11, as well as support at its 200-day MA of $101.11.

Wal-Mart Stores share prices have moved between a 52-week high of $115.49 and a 52-week low of $85.78 and are now trading 23% above that low price at $105.72 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.

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.

Keywords: pivot alerts wal-mart stores

Ticker(s): WMT