Tag: Walmart

Walmart Inc. Stock Code WMT.NYS

Outlook

Price closed below the cloud in the previous trading session, hinting at a bearish price trend. During the price correction, price failed to move convincingly above the above the cloud, keeping the bearish price trend intact. Conversion line and Base line remained in a bearish crossover, hinting at a bearish price trend. Lagging Span is below price of 26 days ago but is above the cloud at the moment. MACD is bearish with both of its line below the zero line. If price is unable to move above the cloud, it could be heading towards the support at $120.47.

Strategy                  

$130.50              Sell

$120.50              Price Target

$135.50              Risk Management Stop

3 weeks              Trade Duration

Walmart Inc. Stock Code WMT.NYS

Outlook
Price tested the upper edge of the cloud on 9 and 10 of June 2021 and was able to hold above the cloud. The next day, price broke above the highs of the two days that tested the cloud. Price also moved above the Base line resistance. This could be a sign of a reversal. Lagging Span is below price of 26 days ago but is above the cloud. MACD is bullish with both lines above the zero line. We think price is likely to move higher to the next price resistance at $147 in the next 2-3 weeks.

Strategy                  
$140.75              Buy
$147.00              Price Target
$136.60              Risk Management Stop
3 weeks              Trade Duration

Walmart Inc. Stock Code WMT.NYS

Outlook
Since price moved above the cloud on 9 April 2021, price has managed to stay above the cloud. Twice during its correction, the decline was halted by the cloud, keeping the uptrend intact. In the previous trading session, price broke above a recent downtrend line, hinting of a possible change in price trend direction from bearish to bullish. Conversion line and Base line had a bullish crossover and is hinting of a bullish price trend ahead. Lagging Span is around price of 26 days ago but is above the cloud at the moment.  MACD is bullish. If price can stay above the downtrend line, it is likely to test the previous high $146.50 within the next 2-3 weeks.

Strategy                  
$139.80              Buy
$146.60              Price Target
$135.80              Risk Management Stop
3 weeks              Trade Duration