It's not one of my more specific charts, but it is clearly suggesting a top in the stock. In fact it was the exact top. WMT has dropped $9 a share since that date. News for the mega-corporation has gotten progressively worse since that date as well. A week ago this iPad tossing video was dropped on the public
Then today we learned their workers are planning to strike on Black Friday and future earnings are expected to be less than originally forecast. This is what you call a perfect shitstorm for WMT.
From Huffington Post: Employees will stage 1,000 unique protests around the country on Black Friday, a United Food and Commercial Workers Union (UFCW) official said on a conference call Thursday afternoon. The events, most of which will take place at Walmart stores, will include walkouts, flash mobs, and "educating" shoppers on the workers' plight.
"We're seeing unprecedented support. In my 20 years of organizing I've never seen this kind of activity," said Dan Schlademan, Director of the UFCW's Making Change at Walmart campaign. "It's going to be a very creative day."
The strikers' diverse complaints center around what they call Walmart's "retaliation" against workers' attempts to organize.
From Bloomberg Business Week: Wal-Mart Stores Inc. (WMT), the world’s largest retailer, forecast fourth-quarter profit that trailed analysts’ estimates in anticipation of a competitive holiday season and after economic conditions slowed U.S. sales gains. The shares fell the most in more than six months.
