WalMart stock pulled back from a high of 115.26 after nearly eight months of advances, piercing below the uptrend line. The downwards correction has stalled at the 100-day simple moving average (SMA) after its push lower off 108.36, which is the 23.6% Fibonacci retracement level of the up leg from 86.07 to 115.26. It’s worth mentioning that the 20-day SMA has crossed below the 40-day SMA, signaling that the short-term bearish bias seems to be holding. The momentum indicators are [..]
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