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Chartology: End of Walmart’s Underperformance?

Shares of Walmart are down 8% ytd, significantly underperforming the broader market. But is that about to change?

Rochdale Securities thinks so.

Earlier in the week analyst Jaison T. Blair turned bullish on the stock and lifted his rating to "Buy" from "Hold" saying the company has an "extraordinary" competitive position with room to increase market share further.

Wal-Mart has benefited from shoppers curbing their discretionary spending to focus more on essentials during the recession, he said. Wal-Mart has also lured more affluent shoppers by focusing on improving brands and service.

Perhaps Blair is right and the fundamentals are in place. Is Walmart about to break higher?

For further insights we turned to Steve Cortes of Veracruz. See what he says. Watch the video now!


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