Walmart Inc. (NYSE:WMT) shares jump
Stocks on Wall Street opened with modest losses Tuesday as U.S. investors returned from a three-day weekend and U.S. and Chinese negotiators prepared to resume trade talks in Washington. The S&P 500 SPX, +0.15% was off 0.2% at 2,769, while the Dow Jones Industrial Average DJIA, +0.03% lost 16 points, or 0.1%, at 25,868. The Nasdaq Composite COMP, +0.19% shed 6 points to trade at 7,467, a loss of 0.1%.
The Dow’s fall was cushioned by a 3.2% rise for shares of Walmart Inc. WMT, +2.21% after the retail giant reported fourth-quarter results and raised its dividend.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 96.05.
The projected upper bound is: 105.97.
The projected lower bound is: 98.68.
The projected closing price is: 102.33.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 83.4058. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 12 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 71.58. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 36 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 244.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 period(s) ago.
Rex Takasugi – TD Profile
WALMART INC closed up 2.210 at 102.200. Volume was 57% above average (neutral) and Bollinger Bands were 20% narrower than normal.
Open High Low Close Volume___
102.170 104.180 102.070 102.200 3,501,925
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 97.54 94.59 92.38
Volatility: 16 25 25
Volume: 1,847,133 2,187,460 2,139,718
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
WALMART INC gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
WALMART INC is currently 10.6% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into WMT.N (mildly bullish). Our trend forecasting oscillators are currently bullish on WMT.N and have had this outlook for the last 29 periods. Our momentum oscillator is currently indicating that WMT.N is currently in an overbought condition.
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