Financial Market Analysis
By Shawn R. Carpenter
Monday, January 12, 2009
Walmart...
Walmart has signaled last week that earnings will not be great. Today, the company also mentioned that they do not see any turnaround in the US economy any time soon.
Regarding the chart above, the pricing in the short term was hit based on the earnings outlook. This has in effect validated a bearish flag pattern. A good entry price for a short would be between 51.90 and 53, with targets levels set at 47.20 and 44.78. Stop loss would be at 54.
¶ 1:08:00 PM
Walmart has signaled last week that earnings will not be great. Today, the company also mentioned that they do not see any turnaround in the US economy any time soon.Regarding the chart above, the pricing in the short term was hit based on the earnings outlook. This has in effect validated a bearish flag pattern. A good entry price for a short would be between 51.90 and 53, with targets levels set at 47.20 and 44.78. Stop loss would be at 54.
¶ 1:08:00 PM
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