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Wal-Mart Stores(WMT - Get Report) operates retail stores in various formats around globally. This stock is trading up 3.5% at $76.79 in recent trading.
Today's Volume: 7.7 million
Average Volume: 7.5 million
Volume % Change: 70%
Shares of WMT are ripping higher today after the company said it plans to accelerate the expansion of small stores, particularly its Neighborhood Market stores, as it looks to compete with a variety of rivals from dollar stores to drug chains.
>>5 Stocks Poised to Pop on Bullish Earnings
From a technical perspective, WMT is bouncing strong here right near its 50-day moving average of $73.71 with above-average volume. This move has also pushed WMT into breakout territory, since the stock has started to push above some near-term overhead resistance at $75.19. At last check, WMT has hit an intraday high of $76.77 and volume has just started to eclipse its three-month average volume of 7.5 million shares.
Traders should now look for long-biased trades in WMT as long as it's trending above its 50-day at $73.71 with strong upside volume flows. I would consider any upside volume day that registers near or above 7.5 million shares as bullish. If WMT can maintain that trend, then this stock has a great chance of trending north of $80 in the near future.
Wal-Mart was also featured recently in "
5 Big Stocks to Trade for Post-Debate Gains."