Today we'll analyze the Stock WMT for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 51.19$ (02/27/08) to 48.62$ (03/10/08) a 2.57$ move
2- The current bullish trend started from 48.62$ at 03/10/08 and is currently trading at 50.60$.
3- The stock current support level is at 50.21 which is the 61.80% fibonacci retracement of the last 2.57$ move.
4- The stock current resistance level is at 51.19 which is the 100.00% fibonacci retracement of the last 2.57$ move.
5- The Stock is trading in a channel between 48.62$ and51.19$.
6- According to ADX, the trend is currently bearish,which is becoming weaker.
Conclusion:
WMT is currently trading a bearish wave, which is becoming weaker .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .
Resistance Levels: 51.19, 51.20, 51.35, 51.89, 52.78.
Support Levels: 50.21, 50.13, 49.90, 49.84, 49.61, 49.60, 49.38, 49.23, 48.63, 48.62, 48.62,.
We Moved!!
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Shadi
Friday, March 14, 2008
Wal-Mart Stores, Inc. Technical Analysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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