WMT Update for 11.10.2007

WALMART - WMT

Monthly chart shows large descending triangle consolidation range pattern in place. While October saw some early buyers, they were quickly overcome by sellers in November. Price is currently near long term support. Should see a break of this $41.50 area support.

Weekly chart shows strong selling the last two weeks.


Daily chart shows a corrective wave pattern up into the $47 area high which was also the .618 fib resistance area. Head and shoulders pattern in place also. Friday saw sellers in a rush to get out of the stock when they gapped down the stock at the open. Look for continued weakness and finally a break of the long time support of $41.50 area.