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Berger: Why Wal-Mart is hoping to be in holiday mood
Following Black Friday, the holiday shopping season has officially kicked off in the United States.
Since the last earnings report on November 13th the stock rallied more than 8%. Over the last two weeks, it's settled into a consolidation period.
From a technical perspective the rally in the Wal-Mart stock has broken out of a 20 month consolidation phase. While potentially bullish through the longer-term lens, it does leave it at risk of a re-test of the breakout area near the $80 mark.
Entry: Short the stock on a break below $84
Target: $81
Stop: $85.50
01:16 minutes
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