Technical View: Wal-Mart set to end at lows of the day, bearish pattern (TheFlyOnTheWall)
FLY ON THE WALL 3:30 PM ET 7/10/2017
The shares were last at $73.45, very near the low of the day. At that price next support is at $72.39. Resistance is at $74.07. On a 1-year daily chart, there is a bearish head and shoulders pattern now active. That pattern began developing in April and became active when price crossed below $74.50. The downside potential for the pattern, if it remains active and completes, is to the $68 area. A move back above $74.50 would see the pattern become inactive. It would take a move above the right shoulder at $76.80 to void the pattern.
