Trading Technicals - 09/11/08

Walmart (WMT) just keeps chugging along, even as the stock market as a whole is struggling. The stock is up 30% year to date, as of the close of market 09/10/08. With the economy  weakening, Walmart should continue to do well as Americans tighten their belts and look for ways to save money.

On a technical basis, Walmart (WMT) is flashing strong bullish signals. It keeps making new highs and is now only $0.46 cents away from the 52 week high. The stock has also just broken out of a trading range as indicated by the two red lines.

For those looking to add Walmart to  their portfolio, wait for a pull back to the $60 area. Monitor at that level to make sure the stock isn’t looking to reverse itself and start a down trend, before entering. We would want to see a bounce off the $60 area.

Tags: Walmart  Technical Analysis