Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Wait for an 'Approaching Oversold' Level Before Jumping Into Wal-Mart


Wal-Mart shares are down 3% pre-market this morning after the company reported 3Q earnings.

MINYANVILLE ORIGINAL Wal-Mart Stores Inc. (NYSE:WMT) shares are down 3% pre-market this morning after the company reported 3Q earnings. WMT said Thursday it earned $3.63 billion, or $1.08 per share, in the quarter ending October 31. The results were better than the same period last year when the company earned $3.33 billion, or $0.96 per share. Even though net income improved year over year, the numbers disappointed the Street, which was expecting $1.07 per share for the quarter. The stock is seeing additional pressure after the company announced that more allegations of bribery have been brought against the company in at least three more countries -- Brazil, China, and India. In April the New York Times reported that the company had found credible evidence that its Mexican subsidiary had paid bribes.

In many prior articles we have alerted reader to the fact that this name was at an Overbought level in the $74 level. At this juncture we would wait to get an Approaching Oversold level before jumping in.

Click to enlarge

For more from, click here.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos