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Wal-Mart Stock Could Outperform Amazon in 2018
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Political and technical headwinds could undermine the online retailer’s rapid growth trajectory, while the Arkansas-based retail giant finally enters the fast track, building out a hugely popular online portal while making key acquisitions
that offer stronger competition in major retail battlegrounds.
On-balance volume (OBV) has also taken a hit since the stock crossed into the quadruple digits for the first time, entering a major downturn
that signals profit taking by funds and retail investors looking for more favorable opportunity cost.
A 2016 recovery wave remounted the breakout level in February and paused for three months, ahead of continued upside
that reached the .618 Fibonacci sell-off retracement level in May 2017.
Amazon shares may be topping at near $1,000 while Wal-Mart stock continues a long-term recovery following a 2015 decline.
The rally finally reached the psychological $1,000 level in May 2017
and dropped into a two-month consolidation, followed by wedge breakout that printed the all-time high.
The uptrend that started in 2009 accelerated at the start of 2015, lifting the stock into a rising wedge pattern
that typically generates the last buying impulse ahead of a long-term top.