- WMT stock price is looking to cross $150 in the upcoming session.
- Bulls have retested the 50 day EMA and are willing for a breakout.
Walmart stock ( WMT ) price is near the critical mark of $150, showing their curiosity in moving across it. The recent price action showed that the stock is breaking the trend of lower highs and attained momentum while breaking the falling wedge pattern in the past week.
Afterward, the stock was noted with a follow-on buying action but was incompetent to break the neckline of the symmetrical triangle pattern and again entered into the pattern. WMT stock has retested the vital mark of the 50-day EMA and again showed a bounce. Now, the stock is near to claiming $150 and willing to cross the neckline by retaining a breakout.
Walmart Inc operates retail, wholesale, and other units, as well as eCommerce, located throughout the United States, Africa, Canada, Central America, Chile, China, India, and Mexico. The Company proposes an assortment of merchandise and services at everyday low prices (EDLP).
At press time, Walmart stock was traded at $148.82 with a surge of 0.96% showing buyers attainability in the stock. The intraday trading volume was noted at 6.393 Million. The technicals of the stock suggest that the stock has a yearly return of 15%, and the current trend of the stock is bullish as per the moving averages.
Daily Charts of WMT stock
On the daily charts, Walmart stock has fended the lower trendline, persists in climbing the gains, and is now near the 52-week highs. The stock has accumulated from the past week after retesting the 50-day EMA mark.
Currently, the stock is facing a bar of 20-day EMA near the round level of $150. Walmart stock is gaining traction, and the orbit shows that if buyers can split the trendline, additional buying will be seen, leading the price to retest $160, which is the strong supply mark. Conversely, if the stock cannot break the trendline, the 200-day EMA must support it.
Additionally, WMT stock has bounced from the lower bollinger band and now it sustains above the middle band which shows buyers have succeeded in reverting the stock price.
Short Term Charts Exploration
WMT stock on a 4-hour chart indicates a follow-on buying in the last trading session. The stock price is now at a crucial level where either side’s moves will be expected. Moreover, the volume on the chart also increased this week.
The RSI (Relative Strength Index) shows a sharp upward move after moving above neutrality. Moreover, a positive crossover was noted, still earning the gains.
Moreover, the MACD indicator extended the bullish moves and started to plot a green bar on the histogram last session. The bullish crossover was noted, and buying action was caught.
Conclusion:
Walmart stock ( WMT ) price was heading toward the resistance mark of $150 in the upcoming sessions and showed a positive outlook.
Technical Levels-
Resistance level- $150 and $155
Support level- $145 and $140
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.