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Walmart reported poor earnings
Information is not investment advice
What happened?
Walmart, the giant retailer, fell short of analysts’ expectations. The earnings forecast was $1.51 per share, while the actual numbers came out $1.39. As a result, Walmart dropped by nearly 5% in pre-trade hours. Note that the stock trading is available from 16:30 MT time.
What does it mean for traders?
The good news for FBS traders is that they trade stock CFDs and can make both buy and sell trades. Since the figures came out worse than expected, Walmart will go down. Let’s look at the chart. The stock price has been trading in a descending channel since November. Now it touches the upper trendline of the channel, therefore it should pull back to the downside. The move below the recent lows of $143.50 may push the stock to this month low of $139.00. Resistance levels are $147.50 and $150.00.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded Metatrader 5 . FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area .
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