WALMART INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 178.50 |
| Take Profit | 181.00 |
| Stop Loss | 177.00 |
| Key Levels | 170.40, 171.50, 174.00, 177.00, 178.50, 181.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 174.60 |
| Take Profit | 170.40 |
| Stop Loss | 176.00 |
| Key Levels | 170.40, 171.50, 174.00, 177.00, 178.50, 181.00 |
Shares of Walmart Inc., an American company that operates the largest wholesale and retail chain, are correcting at 174.00.
On the daily chart, the price is moving in an upward trend and yesterday, it renewed its year’s high of 171.50.
On the four-hour chart, the quotes are trying to work out yesterday’s price gap of 178.50–170.40. Despite the gap, trading volumes indicate a large number of long positions, so the price may reach the local high of 181.00 again.
Technical indicators maintain a stable buy signal: fast EMA on the Alligator indicator are above the signal line and are actively moving away from it, and the AO histogram is forming ascending bars in the positive zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 178.50 with the target at 181.00. Stop loss – 177.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 174.60 with the target at 170.40. Stop loss – 176.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.