This morning the major stock indexes are all under pressure again. Most of the leading stocks in the major sectors are all trading lower. Commodities are also selling off today despite the sharp decline in the U.S. Dollar. There are a couple of stocks that are showing some gains and they are Walmart Stores Inc (NYSE:WMT), Kohls Corp (NYSE:KSS), and Costco Wholesale Corp (NASDAQ:COST).All of these retailers can be viewed as defensive stocks do to their discount business model.
Walmart Stores Inc is trading higher today by 0.11 to $48.19. The Walmart daily chart is in a severe down trend. The stock is trading below all of it's major moving averages which is a weak sign. The stock does have support around the $48.00 level and more around the $45.50 area. However, the stock market indexes will need to bounce for the stock to see any type of significant rally.
Kohls Corp is another leading retailer that is looking very poor on the daily chart. This stock is trading around the lows for the year. The stock will have support around the $47.00 level and more around the $45.00 level. While these levels would normally be good bounce levels it will require some help from the overall market indexes.
Costco Wholesale Corp is another leading retailer that has rolled over on the daily chart. While the stock looks similar to the other retailers on the charts it will have very good support at the $54.00 level. Should that level fail to hold the $51.00 area would be next as support.
These leading retailers are all at the lows of the year. However, they are all very close to good support and could rally sharply if the major indexes could bounce for a few days.
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