| Followers | 679 |
| Posts | 140681 |
| Boards Moderated | 37 |
| Alias Born | 03/10/2004 |
Monday, May 17, 2021 1:19:00 PM
Buy or Sell (WMT) Walmart on Earnings? A Look at Its Key Levels
By: TheStreet | May 17, 2021
• Walmart has been treading water for the last six weeks. Will earnings wake it up? Let's look at the chart ahead of the report.
Walmart (WMT) will report earnings on Tuesday before the stock market opens.
The stock has been trading mostly flat over the past several weeks, so what should investors expect?
Walmart is flat since the beginning of April, which is an interesting observation in a market dominated by multiple cross-currents.
We’re seeing e-commerce and growth stocks getting annihilated right now. As one of the world’s largest retailers, Walmart obviously has a large e-commerce presence.
Walmart is a top-50 holding in the S&P 500 and a component of the Dow Jones Industrial Average but you would hardly realize it as these two indexes continue to hit new all-time highs while shares of the giant retailer continue to flatline.
It also comes at a time where other so-called anointed retailers like Home Depot (HD), Target (TGT) and Costco Wholesale (COST) all continue to grind higher as well.
Will earnings be enough to wake up Walmart stock or will the quarterly report cause a flush lower?
Trading Walmart
Weekly chart of Walmart stock.
Chart courtesy of TrendSpider.com
Most growth stocks hit an intermediate bottom in early March. So did Walmart stock.
In fact, the stock gave traders an excellent bounce off the 21-week moving average. After a solid rebound though, observers of the chart above now know what I mean when saying Walmart stock has been asleep for the last six weeks or so.
On the plus side, shares were able to reclaim the 10-week, 21-week and 50-week moving averages. For now it continues to hold these levels as support too.
However, it’s more of a mixed bag as we look at the $141 to $142 area and downtrend resistance (blue line). These measures continue to keep a lid on the stock price.
On a bullish reaction to earnings, I would love to see Walmart clear the $142 area and clear this month’s high at $142.74. Above that could pave the way to the $148 zone, which has been resistance, followed by the 2021 high that’s just shy of $150.
Above $150 and the all-time high up at $153.66 is in play.
On the downside, keep an eye on Walmart’s key weekly moving averages. Below puts last week's low on the table at $135.76. Below that could make things interesting, though.
Specifically, it could put the $128 to $130 support zone in play, as well as the 21-week moving average. As I mentioned earlier, the latter has been pretty solid support and I would expect it to provide a bounce to the stock price should Walmart decline to this area.
Read Full Story »»»
DiscoverGold
By: TheStreet | May 17, 2021
• Walmart has been treading water for the last six weeks. Will earnings wake it up? Let's look at the chart ahead of the report.
Walmart (WMT) will report earnings on Tuesday before the stock market opens.
The stock has been trading mostly flat over the past several weeks, so what should investors expect?
Walmart is flat since the beginning of April, which is an interesting observation in a market dominated by multiple cross-currents.
We’re seeing e-commerce and growth stocks getting annihilated right now. As one of the world’s largest retailers, Walmart obviously has a large e-commerce presence.
Walmart is a top-50 holding in the S&P 500 and a component of the Dow Jones Industrial Average but you would hardly realize it as these two indexes continue to hit new all-time highs while shares of the giant retailer continue to flatline.
It also comes at a time where other so-called anointed retailers like Home Depot (HD), Target (TGT) and Costco Wholesale (COST) all continue to grind higher as well.
Will earnings be enough to wake up Walmart stock or will the quarterly report cause a flush lower?
Trading Walmart
Weekly chart of Walmart stock.
Chart courtesy of TrendSpider.com
Most growth stocks hit an intermediate bottom in early March. So did Walmart stock.
In fact, the stock gave traders an excellent bounce off the 21-week moving average. After a solid rebound though, observers of the chart above now know what I mean when saying Walmart stock has been asleep for the last six weeks or so.
On the plus side, shares were able to reclaim the 10-week, 21-week and 50-week moving averages. For now it continues to hold these levels as support too.
However, it’s more of a mixed bag as we look at the $141 to $142 area and downtrend resistance (blue line). These measures continue to keep a lid on the stock price.
On a bullish reaction to earnings, I would love to see Walmart clear the $142 area and clear this month’s high at $142.74. Above that could pave the way to the $148 zone, which has been resistance, followed by the 2021 high that’s just shy of $150.
Above $150 and the all-time high up at $153.66 is in play.
On the downside, keep an eye on Walmart’s key weekly moving averages. Below puts last week's low on the table at $135.76. Below that could make things interesting, though.
Specifically, it could put the $128 to $130 support zone in play, as well as the 21-week moving average. As I mentioned earlier, the latter has been pretty solid support and I would expect it to provide a bounce to the stock price should Walmart decline to this area.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
