From a technical perspective it looks as if a two-year long up trend has ended. The good news is that Wal-Mart is not a very volatile stock and there seems to be plenty of support relatively nearby.
Thursday, November 14, 2013
Wal-Mart Slightly Misses, Technicals Indicate Underperformance Will Most Likely Continue
Wal-Mart's 3Q EPS of $1.14 came in just above the street's estimate of $1.13. Same store sales disappointed as they delcined by -0.3% in the quarter versus 0% street expectations. Management set 4Q guidance of $1.60-$1.70 vs expectations of $1.69. Wal-Mart opened lower but has rebounded so far in trading today.
From a technical perspective it looks as if a two-year long up trend has ended. The good news is that Wal-Mart is not a very volatile stock and there seems to be plenty of support relatively nearby.
From a technical perspective it looks as if a two-year long up trend has ended. The good news is that Wal-Mart is not a very volatile stock and there seems to be plenty of support relatively nearby.