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HomeStock(WMT) Walmart Technical Analysis: Can it reach 170?

(WMT) Walmart Technical Analysis: Can it reach 170?

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According to our current CVS stock estimate, the value of CVS Health shares will fall by -7.04% by August 23, 2023, reaching 61.96 per share. Our technical indicators indicate that the present attitude is Bearish, with the Fear and Greed Index reading 39 (Fear). CVS stock has seen 16/30 (53%) green days in the previous 30 days, with 2.75% price volatility. According to our CVS Health stock forecast, now is a terrible time to purchase CVS stock because it’s trading 7.57% higher than we predicted.

WMT, Inc. operates in the retail and wholesale markets. The Company provides a wide range of goods and services at affordable prices. It operates in the following business sectors: Sam’s Club, Walmart, and Walmart International. The Walmart U.S. sector sells consumer goods through the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as Walmart.com and other eCommerce brands. Outside of the United States, Walmart International manages supercenters, supermarkets, hypermarkets, warehouse clubs, and cash & carry. 

Will the trend reversal be observed in the future?

The closing stock price of Walmart, Inc. is $ 155.69, with a total market cap worth $ 419.25 billion (44 million shares outstanding). Walmart, Inc. trades under the symbol WMT on the New York Stock Exchange. Walmart, Inc. has gained -2.24% in the last 24 hours. The stock price prognosis for Walmart, Inc. is now positive.  The trailing-twelve-month dividend rate for Walmart, Inc. is $ 2.23 per share, with a dividend yield of 0.02%.

According to Simply Wall St., Walmart has a debt-to-equity ratio of 57.9%. This means it has less debt than equity, as measured by the difference between its total assets of $245.05 billion and total liabilities of $165.59 billion. Walmart has $46.00 billion in debt and $79.47 billion in equity. Furthermore, Walmart Inc. (WMT) has a stock market valuation of $431.554 billion and a total revenue of $611.289 billion. Furthermore, the stock has a basic EPS of $4.17 and a price-to-earnings ratio of 38.78.

The Support and Resistance Levels Of WMT

The price movement reveals that Walmart Inc.’s stock price has been on an upward trend for the previous three months, gaining by 4.34% while reaching higher highs and lower lows.

WMT stock is currently experiencing resistance, and the price has breached the uptrend in the previous several days by pulling back from the $162 level and trading at approximately $160.26. As a result, if it maintains its present level, WMT prices might continue to rise and approach the first and second resistance levels of $162.75 and $166.07.

If the WMT price fails to maintain its present level and falls, it may reach the nearest support levels of $158.30 and $154.29.

WMT Technical Analysis

On the Daily Chart:

The Moving Averages Convergence Divergence (MACD) indicator for Walmart (WMT) is 1.20, indicating that Walmart is a Buy.

Walmart’s (WMT) 20-day exponential moving average is 158.74, and the stock price is $155.69, indicating a Buy.

Walmart’s (WMT) 50-day exponential moving average is 156.17, and the stock price is $155.69, indicating a Buy.

On the Weekly Chart:

The Moving average convergence Divergence (MACD) indicator for Walmart (WMT) is 4.12, indicating that Walmart is a sell.

Walmart’s (WMT) 20-day exponential moving average is 152.74, and the stock price is $155.69, indicating a Buy.

Walmart’s (WMT) 50-day exponential moving average is 146.53, and the stock price is $155.69, indicating a Buy.

Indicators:

The Relative Strength Index (RSI) for Walmart (WMT) is 56.95, indicating a Neutral signal.

The Trend Strength Indicator (ADX) for Walmart (WMT) is 25.98, indicating a Neutral signal.

The Commodity Channel Index (CCI) for Walmart (WMT) is 86.17, indicating a Neutral signal.

The Price Rate of Change (ROC) for Walmart (WMT) is 2.13, indicating a Buy recommendation.

Walmart is trading above the 50-day and 200-day exponential moving averages, indicating that the Walmart price trend is positive. As a result, the Walmart price is likely to rise, indicating a bullish outlook on the daily time frame chart.

Our current WMT stock projection predicts that the value of Walmart shares will fall by -3.51% to $ 150.23 a share by August 23, 2023. Our technical indicators indicate that the present attitude is Bearish, with the Fear & Greed Index reading 39 (Fear). Over the previous 30 days, WMT stock has had 11/30 (37%) green days and 1.50% price volatility. According to our Walmart stock forecast, it’s presently a terrible time to purchase WMT stock because it’s trading 3.64% higher than we predicted.

Walmart Inc. indicates that the investors and traders of the stock price are bullish on the 1-D time frame. The price action reflects a bullish outlook at the time of publishing. The technical analysis tools of the Walmart stock price also support the bullish trend. The MACD, RSI, and EMA highlight positive signals and imply that the uptrend may continue in Walmart’s stock price.

Conclusion

Rising trends indicate that the company is experiencing positive development and that buy interest among investors is increasing. The stock is between support at dollar 154 and resistance at dollar 160. A definitive breakthrough of one of these levels predicts a new direction.

Technical levels

  • Resistance levels: $162
  • Support levels: $155 and $145

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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