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WALMART INC

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WMT trade ideas

WMT Walmart looks like it is bottoming out. A trend continuation may be coming soon as Walmart looks to be bottoming out. A few more days of this rounding out formation and it should be good for a long. Also note the low volume pull back (not a lot of selling pressure). I am not long WMT yet, just observing. Looking for an entry in mid $135 range. Support at $135 so stop loss would be around 134 to give it wiggle room. Minimum target would be near its short-term resistance right now around 138.80-140. However, a break out could send it back to new highs. The fundamentals also support a move higher. - Andre, StockBros Research
NYSE:WMTLong
by StockBrosResearch
1
The Walmart and the Tik Tok news could be a perfect mixThe daily chart under review has a whole lot going on, Wmt has been in its broader uptrend since its corona sell off/ rebound. This one shows alot of the breakdowns of price action. Lets put the past 6 weeks under review. The price action has ended in a seemingly cup and handle formation, typically which take around 6 weeks to form, this puts it at the right place at the right time if past trends continue. Currently nearing oversold on the RSI on a higher price level than it ever has been, gives an idea that it has earned strength in this area, and can be due for a push higher with good volume. If this one goes any lower, Id expect a bounce off the 50 day moving average. Good timing for tik tok news as this may be what WMT needs to push higher. Posted are resistance and support levels, with the purple levels signifying a change in action and possible pivot zones.
NYSE:WMTLong
by king806