Walmart Under Pressure

This afternoon, WalMart Stores Inc. (NYSE:WMT) is trading lower by 0.49 cents to $54.46 a share. The retail giant has been under pressure since late January 2011 when the stock traded as high as $57.89 a share. Scalp traders can watch for minor intra-day support around the $54.45 area. Should WMT decline further the stock will have more intra-day support around the $54.29 area. Both spots could see minor intra-day bounces.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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