According to a person familiar with the matter, Judith McKenna, Wal-Marts current Chief Operating Officer, has been appointed as Chief Executive Officer of the companys international unit. She is to assume the new role on February 1st.
Wal-Mart shares closed higher for the seventh time in the past ten trading sessions on Wednesday. It has also been the sharpest daily surge since November 16th. The stock went up 2.00% ($2.01) to $102.70, after touching an intraday high at $102.94 and also a fresh all-time high.
In the week ended on January 14th the shares of the retail chain added 0.74% to their market value compared to a week ago, which marked a fifth consecutive period of gains.
The stock has extended its advance to 4.00% so far during the current month, following a 1.56% surge in December. The latter has been a fourth consecutive month of gains.
For the entire past year, the shares of the NYSE-listed retailer went up 42.87% following another 12.76% surge in 2016.
The source said that David Cheesewright, who presently is Wal-Marts International Chief Executive, would continue working on company projects. However, it was not immediately disclosed what these projects would involve.
According to the most recent quarterly report, net sales of Wal-Mart’s international unit were estimated at $29.55 billion and accounted for almost a quarter of Wal-Mart’s total net sales.
According to CNN Money, the 30 analysts, offering 12-month forecasts regarding Wal-Mart’s stock price, have a median target of $103.52, with a high estimate of $120.00 and a low estimate of $72.00. The median estimate is a 0.80% surge compared to the closing price of $102.70 on January 17th.
The same media also reported that 16 out of 32 surveyed investment analysts had rated Wal-Mart’s stock as “Hold”, while 14 – 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 – $102.90
R2 – $103.11
R3 (Range Resistance – Sell) – $103.31
R4 (Long Breakout) – $103.93
R5 (Breakout Target 1) – $104.64
R6 (Breakout Target 2) – $104.97
S1 – $102.50
S2 – $102.29
S3 (Range Support – Buy) – $102.09
S4 (Short Breakout) – $101.47
S5 (Breakout Target 1) – $100.76
S6 (Breakout Target 2) – $100.43
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 – $100.58
R1 – $102.64
R2 – $104.40
R3 – $106.46
R4 – $108.51
S1 – $98.82
S2 – $96.76
S3 – $95.00
S4 – $93.23
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