Is It Time To Buy These 2 Retail Giants?
Is It Time To Buy These 2 Retail Giants?
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Hey Traders and Investors,
Have you ever been to a Walmart or Target with an empty parking lot?
The point is…A LOT PEOPLE SHOP HERE but, in the past few months, we saw shares of Target ( TGT 0.00%↑ ) and Walmart ( WMT 0.00%↑ ) collapse!
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A Chartist Point Of View
When it comes to charts you have 3 phases:
Accumulation Phase
Trend Phase
Distribution Phase
After a large move to the upside or downside, the price will reach an equilibrium. During this equilibrium, the stock trades sideways and we, as traders sit back and watch for a breakdown or breakout.
A breakout shows us: More demand than supply.
A breakdown shows us: More supply than demand.
Target TGT 0.00%↑
Looking at shares of TGT we can see on the weekly chart below that it has been trading in a sideways channel since June.
This channel has ranged from $140-$152.
Looking at the volume, we can see that volume has contracted quite a bit!
This shows us there is less supply (sellers) coming to the market.
Do YOU WANT To learn to read volume? Watch Episode 1 Of “The Becoming Of A Chartist”
Target is worth watching here going into earnings next month. The key here is for the stock to trade above this month-long range.
Walmart WMT 0.00%↑
Shares of WMT look a little healthier than TGT as the stock is above shorter-term moving averages and the 50-day moving average while showing higher highs.
If WMT can trade back inside its prior range, it will only raise conviction for bulls and the potential for a retest of around $150 is not out of the picture.
The Bottom Line
The bottom line is there is no clear-cut picture screaming BUY here but, we feel these 2 retail giants are worth keeping on a watchlist!
These companies are strong and give traders a little different exposure than the NASDAQ tech stocks which are highly sensitive to the Federal Reserves’ action.
We hope to see you on our paid reports as those are for the more exclusive reader/trader.
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