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Friday, 16 August 2019

Walmart Inc (NYSE: WMT): 16 August 2019, Friday

Walmart Inc (NYSE: WMT): 
16 August 2019, Friday
(Click on Technical Chart above to Expand)

Attached is the Technicals on Walmart (NYSE: WMT). The green trend line is the long term uptrend line. This line is a very strong trend line which maintains the uptrend; the blue trend lines are internal lines which are weaker than the green one, but nonetheless the blue internal lines are significant in strength (see how prices interact with the blue trend lines). Together, the set of blue and green trend lines make up the strong uptrend channel of Walmart. Retail sector in US is strong despite trade war. Walmart's trajectory is illustrated on the technical chart as shown. The next red circled target price region will be hit as per all past red circled regions. Walmart is so bullish that recently it did not even bother to backtest resistance-turned-supports anymore (e.g. trend line in black).  

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