Chart of the Day: We're Looking to Call Up This Bullpen Name
This bullpen name has been strong after posting robust earnings and guidance.
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Last week, bullpen name Walmart WMT surprised Wall Street with a strong earnings report and even better forward guidance. The stock lifted higher and traded at an all-time high before backing away, but now the stock looks poised to move substantially higher.
The indicators below are flashing bullish. MACD is on a strong buy signal crossover from last week, money flow at the bottom pane is very bullish and look at the stochastics in pane four: a beautiful up move in this indicator of higher highs and higher lows.
The candles in the top pane are now teal, which represents cautiously bullish. But frankly, the price action really tells us this is a strongly bullish chart. The sideways action from the early part of the month has been dismissed.
We are looking for an opportunity to get on board this big retailer but will continue to keep a watchful eye on Walmart.
