Retail Under Pressure
This morning many of the leading retail stocks reported earnings. The popular Retail Holders Trust(NYSE:RTH) is trading lower by $1.26 to $107.99 a share. The RTH looks to have some intra-day support around the $107.00 level should it trade down there. This is a level where traders can look for a small intra-day bounce.
WalMart Stores Inc.(NYSE:WMT) is trading lower this morning by $2.00 to $53.37 a share. This stock is declining after reporting earnings before the opening bell this morning. The stock appears to have some daily chart support around the $53.00 level. It is important to remember that most stocks are often very volatile after reporting earnings. Therefore, WalMart stock will be in play for most of the day.
Home Depot Inc.(NYSE:HD) is one retail stock that is trading higher this morning. The company reported earnings that are being well received by the market today. HD is trading higher by 0.50 cents to $38.98 a share. The stock is trading at a new 52 week high. The intra-day resistance area for HD will be around the $39.50 level.