Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaWalmart, the giant retailer, fell short of analysts’ expectations. The earnings forecast was $1.51 per share, while the actual numbers came out $1.39. As a result, Walmart dropped by nearly 5% in pre-trade hours. Note that the stock trading is available from 16:30 MT time.
The good news for FBS traders is that they trade stock CFDs and can make both buy and sell trades. Since the figures came out worse than expected, Walmart will go down. Let’s look at the chart. The stock price has been trading in a descending channel since November. Now it touches the upper trendline of the channel, therefore it should pull back to the downside. The move below the recent lows of $143.50 may push the stock to this month's low of $139.00. Resistance levels are $147.50 and $150.00.
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