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Trends & Analysis
News
China stocks end mixed despite PBoC announcement
News
Asia stocks rise on prospects of Fed easing hikes
News
HP joins the tech layoff spree
News
Best Buy shares spike amid upbeat Q3 print
News
Investors cheer Disney CEO Bob Iger’s return
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Foot Locker shares surge after upbeat earnings report

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Asset Watch

Can Walmart protect you from the September swoon?

 

Friday, September 23 2022, 16:50pm

With seasonality firmly in the bearish camp, Sep. 20-30 is often the worst time to own S&P 500 stocks. Interest rates have also risen rapidly in recent days, making the bond market sell-off situation, worse. Plus, as the FOMC is poised to raise interest rates on Sep. 21, Chairman Jerome Powell’s hawkish or dovish disposition could go a long way in shaping short-term sentiment.
Trouble seemingly at every corner, could Walmart offer a solid risk-reward proposition regardless of how the drama unfolds?

Source : TradingView

Walmart closed above its rising support line drawn from the June lows on Sep. 20, so its three-month uptrend remains in place. Its August intraday high of $142.72 did not fill the gap from the May 17 earnings debacle. And as most gaps fill, Walmart should retrace those losses at some point. A move above $146 also aligns near Walmart’s November and December 2021 highs, as well as its January and March 2022 highs.

The playbook is as follows: if the S&P 500’s negativity persists, Walmart could outperform by holding or remaining close to its rising support line. On the other hand, if Powell’s press conference spurs bullish optimism, there is plenty of upside available for Walmart to fill its May gap.

Is Walmart the perfect place to hide, or should you wait until October to make your move?

 

Sources:

S&P 500 seasonality:

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