WMT 72.96: YTD 20% drop to long-term support zone
WMT dropped 20% from the 90.97 peak (January 13,2015) to 72.34 (June 10, 2015 low) (as shown on the weekly chart) near the 200 week moving average and the 71.51/72.61 support zone (October 7, 2013/October 14, 2014 range lows) where the stock could consolidate. The weekly RSI is oversold, cautioning for bounces. The 72.50/77.17 resistance zone near the 5-month falling trendline could cap near-term gains. A breakout above the trendline resistance would suggest basing.
Short term: neutral
Long term: neutral
Short term: neutral
Long term: neutral
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.