Current trend

Shares of Walmart Inc., an American company that operates the world’s largest wholesale and retail chain, resumed growth last week, reversing from 153.12 (Murrey level [1/8]).

The price corrects upward against the short-term downward trend, trying to return to the recently abandoned ascending channel. Currently, the quotes are testing the middle line of Bollinger bands around 160.50. After a breakout of it and the central mark of the Murrey trading range of 162.50 (Murrey level [4/8]), the positive dynamics can continue to the area 168.75 (Murrey level [6/8]) and 171.88 (Murrey level [7/8]). The key “bearish” reversal level is 156.25 (Murrey level [2/8]), consolidation below which will allow the asset to reach the area of 153.12 (Murrey level [1/8]) and 150.00 (Murrey level [0/8]).

Technical indicators do not give a single signal: Bollinger bands reverse downwards, Stochastic reverses upwards, while the MACD histogram is stable in the negative zone.

Support and resistance

Resistance levels: 162.50, 168.75, 171.88.

Support levels: 156.25, 153.12, 150.00.

Trading tips

Long positions may be opened above 162.50 with the targets at 168.75, 171.88 and stop loss 160.50. Implementation time: 5–7 days.

Short positions may be opened below 156.25 with the targets at 153.12, 150.00 and stop loss 158.30.