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Wal-Mart Is The Only Leading Retailer That Is Down Today



April 11, 2012 – Comments (0) | RELATED TICKERS: RTH , BIG , TJX

This afternoon, all of the leading retail stocks are trading higher on the session. The Merrill Lynch Retail HOLDRS ETF (NYSEARCA:RTH) is trading higher by 0.47 cents to $41.07 a share. This signals that most retail stocks are trading higher today. Other leading retail stocks such as Target Corporation (NYSE:TGT), Big Lots, Inc. (NYSE:BIG), and The TJX Companies, Inc. (NYSE:TJX) also have solid moves in positive territory. On the surface everything looks fine and dandy in the retail world.

The one lone retail stock that is declining today is Wal-Mart Stores, Inc. (NYSE:WMT). The stock is trading lower by 0.21 cents to $59.72 a share. While the stock is not down much; it is failing to catch a bid today and that is worth noting. The daily chart is trading below the important 50 moving average which puts the stock in a weak technical formation. The stock will have some daily chart support around the $58.25 level. Short term traders can watch for intra-day support around the $59.50 area.

Nicholas Santiago

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