Price Check on WalMart $WMT – January 16, 2025
This is Scott at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. This is a really quick one here on Walmart ( NYSE: WMT ).
As you can see if I zoom out, Walmart ( NYSE: WMT ) has found consistent support in and around this red line, that’s the 50-day moving average. Time and time again the stock gets in and around the 50-day moving average, the buyers hold it up, and it continues to trend higher.
Well here we are, a couple of weeks into January and what do we have again? We have the stock holding above that 50-day moving average. We’re at a pretty clear level of support here and I see some pretty clear resistance, a downward-sloping trendline of resistance. Sellers here, and sellers here, but nice consolidation around the 50-day.
What I want to see from Walmart ( NYSE: WMT ) is a move above that level coming on volume, and ideally, it’s able to close above this recent area of resistance right around 93.60. I would have an alert just under 93.60 on Walmart ( NYSE: WMT ) and look for a strong move above that level coming on volume, and a close above that zone.
This stock, typically, will consolidate into earnings and pop up after earnings. Earnings on the stock aren’t until near the end of February. So if the market does firm up, and the market does continue higher, we may get a sooner-than-expected rally. So I definitely think you should be watching the price on this stock, and looking for a strong close above this recent level of resistance.
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