Wal-Mart Shares Put In Double Bottom And Rally

shares were trading higher by $0.45 at $72.92 in Wednesday's session. The catalyst for the rally may be unconfirmed chatter of a potential stake in the company by activist Bill Ackman. In addition, according to Benzinga Pro, there has been noted activity in the June $72.50 calls that expire next Friday. Off the open, the issue made a new low for the recent decline, breaching Tuesday's low ($72.36) by $0.02, reaching $72.34 before staging a rebound. So far, it has surpassed Tuesday's high ($72.85), but has come up shy of Monday's high ($73.49), only reaching $73.26. The latest analyst to comment on the issue was Bank Of America's Robert Chimes, who maintained his Buy rating and $90 price target.