Wal-Mart Stores (WMT) Crosses Pivot Point Support at $67.85
Wal-Mart Stores (NYSE:WMT) has opened bearishly below the pivot of $68.13 today and has reached the first level of support at $67.85. Analysts will be watching for a cross of the next downside pivot targets of $67.50 and $66.87.
There is potential upside of 15.8% for shares of Wal-Mart Stores based on a current price of $67.76 and an average consensus analyst price target of $78.49. The stock should run into initial resistance at its 200-day moving average (MA) of $68.84 and subsequent resistance at its 50-day MA of $71.71.
Over the past year, Wal-Mart Stores has traded in a range of $57.18 to $77.60 and is now at $67.76, 19% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 0.6% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Wal-Mart Stores on November 1st, 2012 by issuing a Downtrend alert when the shares were trading at $74.16. Since that call, shares of Wal-Mart Stores have fallen 8.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: pivot alerts wal-mart stores