Filed Under:
Tickers in this Article:

The few days surrounding the U.S Thanksgiving holiday are generally regarded as two of the most important days for the retail sector, as it marks the beginning of the holiday shopping season. Given this fact, we find it only appropriate to look at the stock price of the world's largest retailer. As you can see from the chart below, the price of WMT has preformed nicely since late September, climbing from a low near $42 back toward its summer-time highs of $55.75. The question now remains: "Will the shopping season give WMT the boost it needs to get above the $55.75 resistance?"

We've also added the MACD indicator, which is currently showing signs of topping. We'd expect the 200 DMA to act as the next level of support in the event that the resistance of the July highs proves too much for the bulls to overcome.

comments powered by Disqus
Trading Center