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Watch for Shares of Wal-Mart Stores (WMT) to Approach Resistance at $86.91

By Shiri Gupta

Shares of Wal-Mart Stores (NYSE:WMT) opened today above their pivot of $85.83 and have already reached the first level of resistance at $86.46. Analysts will be watching for a cross of the next upside pivot targets of $86.91 and $87.99.

In the past 52 weeks, Wal-Mart Stores share prices have been bracketed by a low of $65.28 and a high of $109.98 and are now at $86.48, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 0.2%.

There is potential upside of 21.2% for shares of Wal-Mart Stores based on a current price of $86.48 and an average consensus analyst price target of $104.79. The stock should discover initial support at its 50-day moving average (MA) of $68.03 and subsequent support at its 200-day MA of $64.80.

SmarTrend recommended that its subscribers protect gains by selling shares of Wal-Mart Stores on February 5th, 2018 by issuing a Downtrend alert when the shares were trading at $100.85. Since that call, shares of Wal-Mart Stores have fallen 14.7%. 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

Ticker(s): WMT