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- 5/10/2024 -
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Wal-Mart Stores (WMT) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Wal-Mart Stores (WMT). During the week, the WMT gained 0.66 points, or 1.10%, and closed at 60.48 on Friday, May 10, 2024. It was the best weekly gain since March 8, 2024. Weekly volume was 53% above average.
 Long-term trend: [See WMT long-term trend chart]
A long-term uptrend had started on November 13, 2015 at 56.30 and reached 181.35 on February 20, 2024. WMT gained -125.05 points, or -222.11%, in 431 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (143.23) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
 Medium-term trend: [See WMT medium-term trend chart]
A medium-term downtrend had started on February 20, 2024 at 181.35 and reached 58.18 on February 26, 2024. WMT lost 123.17 points, or 67.92%, in 0 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See WMT weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Relative Strength Index and Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since February 23, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See WMT short-term trend chart]
A short-term uptrend had started on May 2, 2024 at 58.58 and reached 60.85 on May 8, 2024. WMT gained -2.27 points, or -3.88%, in 6 days. The price is now at the 16.30% retracement level.
 Daily Technical Indicators: [See WMT daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since March 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3.11% on Friday. It is 87.70% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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