WMT Forecast 7/28/2015

WallMart (NYSE:WMT) has been selling off for quite some time. It has been showing signs of exhaustion recently, and has been on my watchlist.

WMT has finally confirmed its bottom by forming a hybrid double bottom/head and shoulders reversal pattern on its daily chart. Our forecast is for this stock to rally up to test the highs of its recent range near $74.50 per share. Once that initial target has been tested, we will take new power measurements and see if there is the energy to take this stock up into the $77-$78 range.