Current trend

Shares of Walmart Inc., an American company that manages the world's largest wholesale and retail chain, are trading at around 160.00.

It became known about the buyout of stocks of the Flipkart e-commerce company in the amount of 1.4B dollars from an unnamed major Indian shareholder, as well as in the amount of 35.0B dollars from the hedge fund Tiger Global, which in 2021 acquired assets for 38.0B dollars. The issuer began preparing for the transaction back in 2018, having received an initial 77.0% stake for 16.0B dollars. Now, according to approximate calculations, the share of Walmart Inc. has increased to 80.0%, but the exact data are not disclosed.

The financial report for Q2 2023 will be published on August 17. According to analysts' forecasts, revenue could reach 159.37B dollars, which exceeds 152.3B dollars in Q1, and earnings per share are expected to be in the range of 1.68 dollars, which is higher than the previous indicator of 1.47 dollars.

As for dividends, the full payment schedule for 2023 has already been determined, and on September 5, investors will receive 0.57 dollars per share, with a yield of 1.43% per annum.

Support and resistance

On the daily chart, the asset continues to move within the framework of working out the global corridor, approaching the resistance line of the channel at around 165.00.

Technical indicators are preparing for a local correction and still hold the global buy signal: the AO histogram is high in the buy zone, and the fast EMAs on the alligator indicator are trading above the signal line, actively moving away from it.

Support levels: 158.00, 153.00.

Resistance levels: 161.00, 165.00.

Trading tips

If the asset continues growing, and the price consolidates above the resistance level of 161.00, long positions with a possible target at 165.00 and stop-loss at 160.00 will be relevant. Implementation time: 7 days and more.

If the asset reverses and declines and the price consolidates below the local support level of 158.00, short positions can be opened with a target at 153.00. Stop-loss – 160.00.