#Walmart said it will start its own financial technology company, aimed at customers and employees, with the help of investment firm Ribbit Capital, which has backed investment platform Robinhood, personal finance portal Credit Karma, and other big names in the industry.
The new company aims to “develop and offer modern, innovative and affordable financial solutions,” the retailer said in a statement.
Walmart said it would continue to offer existing financial services and third-party partnerships, including credit cards and services such as check cashing, money transfers, and layaway.
Walmart closed up 0.660 at 147.290. Volume was 38% below average (neutral) and Bollinger Bands were 61% narrower than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
Walmart is currently 9.7% above its 200-period moving average and is in a downward trend.
Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of Walmart at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bearish on Walmart and have had this outlook for the last 18 periods.
Overall, the bias in prices is: Upwards.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles.
During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.
An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body).
The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.
If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with Walmart), it may be a last engulfing top which indicates a top.
The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.
