Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

According to an April 11th statement by Wal-Mart Stores Inc (WMT), more corporate jobs are to be cut at the retailer in the United States during the present month, despite investment efforts in the enhancement of its e-commerce operations. Reductions are expected to affect “hundreds of jobs” in Wal-Marts international and technology businesses.

Wal-Mart shares closed higher for a third consecutive trading session on Tuesday. The stock went up 0.51% ($0.37) to $73.43, with the intraday high and the intraday low being at $73.45 and $72.93 respectively. In the week ended on April 9th the shares of the retail chain added 1.14% to their market value compared to a week ago, which marked a second consecutive period of gains, but yet, the smallest increase since the week ended on March 12th. The stock has extended its advance to 1.87% so far during the current month, following a 1.62% surge in March. The latter has been a second straight month of gains. For the entire past year, Wal-Mart shares gained 12.76%.

“As we said in January, to fuel our growth and our investments we have to manage our costs and our capital decisions with discipline”, Randy Hargrove, a spokesperson for Wal-Mart, said, cited by Reuters. “This means we will continue to find ways to operate more efficiently and effectively.”

In 2016, the retail chain cut 7 000 back-office jobs, as it moved more personnel to sales, while earlier in 2017, over 1 000 positions in human resources were eliminated.

According to CNN Money, the 31 analysts, offering 12-month forecasts regarding Wal-Mart’s stock price, have a median target of $73.00, with a high estimate of $90.00 and a low estimate of $60.00. The median estimate is a 0.59% decrease compared to the closing price of $73.43 on April 11th.

The same media also reported that 20 out of 36 surveyed investment analysts had rated Wal-Mart Stores stock as “Hold”, while 12 – as “Buy”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Wal-Mart stock are presented as follows:

R1 – $73.48
R2 – $73.53
R3 (Range Resistance – Sell) – $73.57
R4 (Long Breakout) – $73.72
R5 (Breakout Target 1) – $73.88
R6 (Breakout Target 2) – $73.95

S1 – $73.38
S2 – $73.33
S3 (Range Support – Buy) – $73.29
S4 (Short Breakout) – $73.14
S5 (Breakout Target 1) – $72.98
S6 (Breakout Target 2) – $72.91

By using the traditional method of calculation, the weekly levels of importance for Wal-Mart Stores Inc (WMT) are presented as follows:

Central Pivot Point – $72.42
R1 – $73.47
R2 – $74.03
R3 – $75.08
R4 – $76.12

S1 – $71.86
S2 – $70.81
S3 – $70.25
S4 – $69.68

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: GBP/NOK daily forecastForex Market: GBP/NOK daily forecast During yesterday’s trading session GBP/NOK traded within the range of 10.5550-10.6168 and closed at 10.5570, losing 0.42% on a daily basis.At 6:48 GMT today GBP/NOK was up 0.07% for the day to trade at 10.5669. The pair touched a daily […]
  • Commodities trading outlook: gold, silver and copper futuresCommodities trading outlook: gold, silver and copper futures Gold and silver futures recovered some losses during midday trade in Europe today, but were still deep in bear ground, after logging multi-month lows earlier. Meanwhile, copper futures were also on the downside as the dollar weighed on […]
  • Oil lower as reserves seen gainingOil lower as reserves seen gaining Oil traded lower on Tuesday as analysts forecast a gain in Crude Oil Inventories ahead of the American Petroleum Institutes report, scheduled for today. API collects information on a voluntary basis from operators of refineries, pipelines and […]
  • US stock indexes remained almost unchanged, erasing Wednesday’s gainsUS stock indexes remained almost unchanged, erasing Wednesday’s gains U.S. stocks erased an earlier gains after the Federal Reserve didnt indicate when it will reduce the pace of stimulus. Data issued yesterday showed the economy grew more than projected in the second quarter.The S&P 500 lost less than 1 […]
  • Gold trading outlook: futures retreat from 13-month highs, Fed’s rate outlook rather dovishGold trading outlook: futures retreat from 13-month highs, Fed’s rate outlook rather dovish On Tuesday gold for delivery in April traded within the range of $1,261.00-$1,276.30. Futures closed at $1,263.90, inching up 0.06% on a daily basis. It has been the 17th gain in the past 27 trading days. The daily high has been the highest […]
  • Natural gas trading outlook: futures rise on imminent cold blastNatural gas trading outlook: futures rise on imminent cold blast Natural gas rose for a second day as the latest in a series of Arctic blasts spread below-normal temperatures across the majority of the US, though upside movement was checked by an upcoming thaw next week.Natural gas for delivery in April […]