Walmart Poised to Break From Retail Pack

Walmart Stores (WMT) looks like it can separate itself from the "retail pack" of weak-looking charts. WMT has traded sideways since September but beneath the surface it looks like the technical studies are strengthening. A close above $73 on WMT in the near-term should start a bullish move on this retailer. Check out the charts below for our reasoning.

In this daily chart of WMT, below, going back 12 months, we can see that the 200-day moving average line is flat and the stock won't take much of a rally to get prices above the 200-day. WMT is above the flat to rising 50-day average line. The On-Balance-Volume (OBV) line made a low in February and a higher low in March. If the OBV line can continue to rise it will give support to and confidence in further gains. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line (bullish) and could be narrowing toward a fresh go long signal....115 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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