Wal-Mart (WMT) is trading in a rising wedge

Wall Mart shares are trading within a rising wedge on the mid-term that usually forms at the end of a trend.

The $16.20 area represents the 2008 highs and, along with the wedge pattern, it could lead to profit taking that, in turn, could generate a correction. The declining volumes on the past 6 months of rising prices shows an unsustainable trend.

However, for those seeking for a good stop loss level, the lower limit of the wedge can be considered, followed by the $60.00 support level.