Wal-Mart - 52 Week High

Published on Tuesday, 24 January 2012 12:34 Written by Danny Miller

New York, January 24th (TradersHuddle.com) - Shares of Wal-Mart Stores, Inc. (NYSE:WMT) booked a new 52 week high today by trading above $61.25, traders are definitely monitoring Wal-Mart's price action to see if this move attracts further buying into the stock.

Wal-Mart Stores, Inc. (NYSE:WMT) operates discount stores, supercenters, warehouse membership clubs, and neighborhood markets. The Company's stores sale products like general merchandise, apparel, electronics and groceries. Wal-Mart operates the warehouse membership stores under the Sam's Club name, where the company sell assorted merchandise including its private label products. Wal-Mart was founded by Sam Walton in 1945 and is based in Bentonville, Arkansas.

Wal-Mart is currently trading 0.67% versus its previous trading session close, and it has calculated support and resistance at $56.32 and $61.06 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -0.28% from its previous trading close, which means that Wal-Mart stock is outperforming the overall market.