| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 153.00 |
| Take Profit | 145.00 |
| Stop Loss | 158.00 |
| Key Levels | 145.00, 153.00, 156.00, 158.00, 162.00, 165.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 158.00 |
| Take Profit | 162.00 |
| Stop Loss | 156.00 |
| Key Levels | 145.00, 153.00, 156.00, 158.00, 162.00, 165.00 |
The stocks of Walmart Inc., the US company that operates the world’s largest wholesale and retail chain, are trading at 156.00.
On the daily chart, the price is kept within the ascending corridor with dynamic boundaries of 165.00–152.00.
On the four-hour chart, after the breakout of April 2021 high at 162.00, the quotes reversed and began a downward movement, which may last until reaching the channel support line at 152.00. However, in case of a reversal, the instrument may return to global resistance again and even break it.
Technical indicators hold a buy signal, which is rapidly weakening: fast EMAs on the Alligator indicator are above the signal line but are actively approaching it, and the AO oscillator histogram is forming downward bars.
Trading tips
Short positions may be opened after the consolidation below the local support level of 153.00 with the target at 145.00. Stop loss – 158.00. Implementation period: 7 days or more.
Long positions may be opened after the consolidation above the local resistance of 158.00 with the target at 162.00. Stop loss – 156.00.
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