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Walmart Inc. Technical Analysis

3/29/2023 9:35 AM

The shares of Walmart Inc., the US company that operates the world's largest wholesale and retail chain, are correcting at 143.00.

On the daily chart, the price is forming a local downward channel with dynamic boundaries 144.00–134.00, approaching its resistance line.

On the four-hour chart, the probability of exiting the range is estimated as high since it can work as a Flag trend continuation pattern. In this case, the key resistance will be located around the previous high at 146.00, the breakout of which will become a catalyst for the movement to the 153.00 area.

Technical indicators gave a buy signal: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO histogram forms rising bars into the buy zone.

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