Retail Bubble Stocks Play On Earnings Momentum
Under Armour (UA) ($54.74 vs. $58.08 on Oct. 17): Set an all-time high at $60.96 on Sept. 14. The stock's 200-day simple moving average provided a buying opportunity at $50.33 on Nov. 8. The weekly chart shifts to positive on a close this week above the five-week MMA at $53.55. My weekly value level is $50.91 with a monthly risky level at $59.06.
Wal-Mart Stores (WMT) ($70.56 vs. $76.91 on Oct. 17): Set an all-time high at $77.60 on Oct. 16. The weekly is negative with declining Mojo with the stock below its five-week MMA at $71.83. My quarterly value level is $68.55 with a weekly risky level at $71.80.
At the time of publication the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.