Technical Analysis of Financial Markets

Saturday, February 16, 2008

Wal-Mart Stores Inc. (WMT)

Operater of retail stores in various formats worldwide, Wal-Mart has remained in a trading channel ranging from approx $42 to $51.50 over the last 28-month period. Price action is now approaching the upper band of this trading range providing an entry into a short position based on the assumption of the continued channel; stop-loss close above $51.50. Tuesday 19th; Wal-Mart is expected to report fourth-quarter earnings of $1.02 a share.

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