Trading Technicals – 09/11/08
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/389289429/Posted on Wednesday, September 10th, 2008 | In Stocks to Watch
Walmart (WMT) just keeps chugging along, even as the stock market as a whole is struggling. The stock is up 30% year to date, as of the close of market 09/10/08. With the economy weakening, Walmart should continue to do well as Americans tighten their belts and look for ways to save money.
On a technical basis, Walmart (WMT) is flashing strong bullish signals. It keeps making new highs and is now only $0.46 cents away from the 52 week high. The stock has also just broken out of a trading range as indicated by the two red lines.
For those looking to add Walmart to their portfolio, wait for a pull back to the $60 area. Monitor at that level to make sure the stock isn’t looking to reverse itself and start a down trend, before entering. We would want to see a bounce off the $60 area.
Tags: Walmart Technical Analysis
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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