Walmart Inc.Updated Walmart
Price has been ranging in the $135 - 150 zone since Aug 20'.
Price is currently in the bottom half of this range and a very strong demand zone that now coincides with the 99MA - which has also been a strong trend support seen on the chart around Dec. 18' and March 20'
All of these facts suggest an upward movement in price in imminent. However, given the current sentiment of a looming blow off top in the SPY, paired with this recent short term downtrend (seen in red dashes) on the chart; Waiting on a confirmed short term trend break would be the best option moving forward.
A good chunk of the move has already happened and it would make no sense to enter right now in no mans land.
Price is currently in the bottom half of this range and a very strong demand zone that now coincides with the 99MA - which has also been a strong trend support seen on the chart around Dec. 18' and March 20'
All of these facts suggest an upward movement in price in imminent. However, given the current sentiment of a looming blow off top in the SPY, paired with this recent short term downtrend (seen in red dashes) on the chart; Waiting on a confirmed short term trend break would be the best option moving forward.
A good chunk of the move has already happened and it would make no sense to enter right now in no mans land.
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.