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Walmart Inc., Technical Analysis

11/7/2022 10:26 AM

The shares of Walmart Inc., the US company that operates the world's largest wholesale and retail chain, are trading at 141.00.

The price is correcting upwards on the daily chart, forming a local ascending channel with dynamic boundaries 130.00–149.00 and approaching the resistance line at 149.00 within the ascending wave.

On the four-hour chart, it can be seen that the quotes are above the 50.0% Fibonacci intermediate correction level at 139.00, which is now strong support, as it coincides with the global high of early August, in favor of continuing further growth. If the instrument holds above it, the upward dynamics may continue until the global target is reached above the channel's upper border at 152.00.

At the moment, fast EMAs on the Alligator indicator are holding above the signal line, and the histogram of the AO oscillator, despite the formation of ambiguous bars, is in the buying zone.

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