Tuesday, December 15, 2020 1:37 PM EST
Leading retailer, Walmart Inc (WMT), has been pulling back after making a new all-time high on December 1st, 2020. Walmart stock traded as high as $153.65 a share at that peak. Today, the stock is trading around the $145.60 level. Traders should note that Walmart stock is now trading just below its important 50-day moving average. This formation puts Walmart Inc (WMT) stock in a slightly weak technical position on the daily chart.
In the short term, Walmart Inc (WMT) shares have a lot of daily chart support around the $140.00 level. This is where there is a daily chart gap fill from November 2nd, 2020. Often gap fills will serve as solid support when initially tested. The $140.00 level is also where the stock broke out in September 2020. Short term day and swing traders should watch this key support level for a bounce in Walmart (WMT) stock.
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Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.
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