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Watch for Shares of Wal-Mart Stores (WMT) to Approach Support at $94.51

By James Quinn

Shares of Wal-Mart Stores (NYSE:WMT) have bearishly opened below the pivot of $95.22 today and have reached the first support level of $94.81. Should the shares continue to fall, the support pivots of $94.51 and $93.80 will be of interest.

In the past 52 weeks, shares of Wal-Mart Stores have traded between the current low of $0.00 and a high of $109.98 and are now at $0.00. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

Wal-Mart Stores has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $99.36. Wal-Mart Stores shares should first meet resistance at the 50-day moving average (MA) of $91.37 and find additional resistance at the 200-day MA of $91.64.

SmarTrend recommended that subscribers consider buying shares of Wal-Mart Stores on July 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.28. Since that recommendation, shares of Wal-Mart Stores have risen 9.0%. 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