The department store company has been oscillating between $135 and $152 since June.
The department store company has been oscillating between $135 and $152 since June. Recently, the stock sought support at its trend support, an event that allowed it to bounce and initiate a new upward movement. The $142 is its main reference to beat. Overcoming this level would cancel its bearish gap from late November, a scenario that would be conducive to continue the movement and try to conquer the $146.90 level. On the other hand, the definitive loss of its trend support ($135) would most likely trigger the beginning of a corrective stretch to $130, the old support zone, although an extension to $126 (annual low) would not be ruled out.
Resistances: $142.60, $146.90, $149.50, $152, $153.80.
Supports: $135, $130, $126, $118.
Targets: (Bullish) $142.60, $147, $152 (Bearish) $130, $126, $119.
Trend structure in WALMART:
- Short term: Bearish.
- Medium term: Neutral.
- Long term: Bullish.