Jim Cramer Says "Walmart is at a Great Level to Buy"

Walmart Inc. (NYSE:WMT) is one of the stocks on Jim Cramer’s radar. Cramer called the company the “number one brick-and-mortar retailer” during the episode. He remarked:

“Now, the next one, the number two online retailer, the number one brick and mortar retailer, is Walmart… This is a slow time for Walmart stock, but Lang (Bob Lang, founder of explosiveoptions.net and the author of Know Your Options) says that makes it the ideal time to buy the stock. The price action here has been sideways, with the stock stuck in the range of $93 to $100 for the last few months. Lang thinks that Walmart’s simply digesting its big move up from the April lows. That makes some sense to me. It was a gigantic gain. He’d be a buyer on weakness.

Why? First off, now you go to the bottom, the Chaikin Money Flow, it remains positive, although weaker than it was in May. Still, the big institutional buyers clearly haven’t finished loading up the truck. More important, the MACD line has made a bullish crossover… It’s the crossover that you really want to see, and this one has it…

And again, that’s possibly the most reliable positive signal in the book. Now, Walmart reports next month, and Lang thinks it might be a good time to start buying the stock ahead of the next quarter. Right now, this thing trades at $96 and change. Lang thinks it can make a run at its February highs of $105 for the end of the year, perhaps going all the way to $110. I agree with him. I think Walmart is at a great level to buy. Charitable Trust already owns Costco, and we already own Amazon. Don’t feel we need a third, but I do like Walmart very much.”

Walmart (NYSE:WMT) operates retail, wholesale, and eCommerce platforms that provide groceries, health and wellness products, household goods, apparel, electronics, and financial services. Additionally, the company runs digital payment systems and provides pharmacy, optical, and hearing services.

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Disclosure: None. This article is originally published at Insider Monkey.