Current trend

The securities of the world's largest wholesale and retail chain, Walmart Inc., continue to trade within the long-term ascending channel, but since mid-September they have been attempting a downward correction: during this time, the price has declined from the reversal level of 165.62 (Murrey level [6/8]), moved into the negative part of the Murrey trading range, and is currently testing 159.38 (Murrey level [2/8]), consolidation below which will allow quotes to leave the ascending channel and continue to decline to 156.25 (Murrey level [0/8]) and 154.69 (Murrey level [-1/8]). The key for the "bulls" is the central level of the Murrey trading range at 162.50 (Murrey level [4/8]), supported by the central line of Bollinger Bands. When re-consolidating above it, the instrument may return to the marks of 165.62 (Murrey level [6/8]) and 168.75 (Murrey level [8/8]).

Technical indicators do not give a clear signal: Bollinger Bands are reversing horizontally after growth, MACD is preparing to move into the negative zone, Stochastic is directed upwards.

Support and resistance

Resistance levels: 162.50, 165.62, 168.75.

Support levels: 159.38, 156.25, 154.69.

Trading tips

Long positions may be opened above the level of 162.50 with targets at 165.62, 168.75 and stop loss at 160.50. Implementation period: 5-7 days.

Short positions may be opened below the level of 159.38 with targets at 156.25, 154.69 and stop-loss at 161.60.