Bearish DailyPlay for Thursday March 22nd, 2018 – Walmart (WMT)
The bearish DailyPlay we chose for Thursday, March 22nd is Walmart (WMT). WMT is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 4.44% move lower and its 1m and 6m trend have turned bearish on 3/14 and just broke below its $53 support level which now becomes resistance.
Walmart’s 1m and 6m trends turned bearish on 2/22 and recently bounced lower off $91 resistance level. With a technical score of 3 (out of 10), WMT is a weak stock that is likely to continue lower.
As a stop loss, if WMT was to trade above $91 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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