Wal-Mart Stores quotes area above 14 day moving average. New bullish technical picture, oscillators confirm the upward trend.
Wal-Mart Stores, June 1 stock closing price was $79.81 (+0,12%). Main trend is up, marked third consecutive positive trading session. New bullish technical picture drawn on Wal-Mart Stores daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2). We suggest to watch today closing. The positive values of many leading oscillators confirm the upward trend.
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Simple Moving Average (SMA)
Wal-Mart Stores quotes are above 14 day moving average (SMA value is 77.62). The short term view is bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Wal-Mart Stores daily chart shows a decrease in volumes compared to the previous day.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 01/06/2017.
Performance: 7 trading days= +1.68% – 15 trading days= +4.83% – 30 trading days= +6.70%
Resistance levels: R1= 80.21 – R2= 80.62 – R3= 81.83
Pivot Point: 79.41
Support levels: S1= 79.00 – S2= 78.20 – S3= 76.99
Buying opportunity above 79.99, targets minor resistance at 80.98 and perhaps as far as strong resistance at 81.67, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 83.43.
Selling opportunity below 79.35, targets minor support at 78.37 and perhaps as far as strong support at 77.69, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 75.96.