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Wal-Mart Stores (WMT) Crosses Pivot Point Support at $103.12

By James Quinn

Shares of Wal-Mart Stores (NYSE:WMT) opened today below their pivot of $106.97 and have already reached the first level of support at $103.12. Should the shares continue to fall, the support pivots of $101.36 and $95.75 will be of interest.

Over the past year, Wal-Mart Stores has traded in a range of $96.53 to $125.38 and is now at $104.89, 9% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

Based on a current price of $104.89, Wal-Mart Stores is currently 5.3% above its average consensus analyst price target of $99.36. Wal-Mart Stores shares should first meet resistance at the 200-day moving average (MA) of $115.06 and find additional resistance at the 50-day MA of $116.10.

SmarTrend is tracking the current trend status for Wal-Mart Stores and will alert subscribers who have WMT in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts wal-mart stores

Ticker(s): WMT