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Walmart Inc., Technical Analysis

1/19/2023 10:05 AM

Shares of Walmart Inc., the US company that operates the world's largest wholesale and retail chain, are correcting at 140.00.

On the daily chart, the price forms a local ascending channel with dynamic boundaries of 140.00–161.00, almost reaching its lower limit.

On the four-hour chart, the continuation of the decline is signaled by the Head and shoulders reversal pattern, the Neckline at 142.00 of which has already been broken. If the formation implementation follows the basic rules, the quotes may fall to the lows of September around 130.00.

Technical indicators have worked out the correction and are falling again: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO oscillator histogram is forming downward bars in the sell zone.



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