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Rant & Rave Blog

Major Trouble For This Stock Ahead: Wal-Mart Stores, Inc. (NYSE:WMT)

Posted by Gareth Soloway Tuesday, July 05, 2016, 03:42PM ET

Read 1226 times

If you ever wanted to bet against Wal-Mart Stores, Inc. (NYSE:WMT), this may be the time. The stock has risen from the depths of the underworld to gain 30% since October 2015. But it may have shot its gun and be out of bullets. The Wal-Mart stock chart is scary because it is hitting the biggest resistance level ever seen by the naked eye. If the stock does not pull back from the $73.50 level in the next month I will be shocked.

 

Look at the chart below. Not only is it slamming into a pivot consolidation high from July 2015, but go back further, you will see it hitting previous lows from August and October 2014. The two ways to play this would be the classic sell-short or buy puts. If you choose puts, look to grab at least 3 months out to give yourself time. The stock should pull back to $67-68.

 

If you want to see what smart traders and investors are doing right now, read this.

 

Wal-Mart is slamming into an epic trend line stretching back to 2014. Expect a pull back on the stock.

 

Gareth Soloway 

www.InTheMoneyStocks.com

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