WALMART INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 160.00 |
| Take Profit | 165.60 |
| Stop Loss | 158.00 |
| Key Levels | 151.00, 156.20, 158.00, 160.00, 165.60, 170.00, 171.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 156.20 |
| Take Profit | 151.00 |
| Stop Loss | 158.00 |
| Key Levels | 151.00, 156.20, 158.00, 160.00, 165.60, 170.00, 171.00 |
Shares of Walmart Inc., an American company that operates the world’s largest wholesale and retail chain, are correcting at 158.00.
On the daily chart, the price has left the global ascending corridor with dynamic boundaries of 171.00–160.00 and is trying to complete a reverse test of the passed support line.
On the four-hour chart, the quotes are working out the price gap of 170.00–159.00, which accompanied the exit from the global channel. Continuation of the upward movement is possible if the asset consolidates above the local high of 160.00, after which a temporary return to the range is possible.
Technical indicators support the upward signal: fast EMA on the Alligator indicator are above the signal line and are actively moving away from it, and the AO histogram is in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 160.00 and reaches 165.60. Stop loss – 158.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 156.20 with the target at 151.00. Stop loss – 158.00.
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