Don't Ignore This Chart!

Wal-mart Comes Across Bullish Momentum Scan

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Wal-mart corrected with the rest of the market over the last two months and retraced 50-61.80% of its prior advance with a falling channel. The correction stopped just short of broken resistance in the 72 area as prices surged back above 75 the last few days. Also notice that MACD moved above its signal line, which qualified WMT for the bullish MACD cross scan.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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