WMT Forecast 8/4/2015

WallMart (NYSE:WMT) has 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.

Price has danced back and forth within the green zone this week, offering many entry opportunities as we wait for the bulls ta take change and break this stock out to the upside.