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