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Walmart Inc., Technical Analysis

1/10/2023 10:14 AM

Shares of Walmart Inc., the US company that operates the world's largest wholesale and retail chain, are correcting upwards at 145.00.

On the daily chart, there is a formation of a channel with dynamic boundaries at 140.00–161.00, where, after reaching the support line at 141.00, the quotes formed a reversal.

The four-hour chart shows that the breakout of the local resistance at 143.00 supports the reverse and strengthens the upward movement, while the decrease is limited by the support line of the global ascending channel around 141.00.

Technical indicators gave a buy signal: fast EMAs on the Alligator indicator approached the signal line and are ready to cross it, and the AO oscillator histogram has almost reached the transition level, forming upward bars.

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