Today’s instrument is the Walmart Inc. stock traded in the NYSE exchange under the ticker WMT.
Image Source: Mike Mozart, Flickr
If we look at the WMT Weekly chart, we can see it moving in a downtrend since the start of the week, slowly falling lower and lower, without managing to form a solid support. Its last traded price was $146.71
Walmart Inc. had scheduled a third-quarter earnings announcement today 16/11/2021. If earning expectations are surpassed, we could expect the price to move upwards, towards the $150 price range.
Today we could expect a move upwards near the resistance of $149 possibly further towards $150.
If however, it doesn’t manage to hold above the current price range then a case can be made for moving towards and below the $146.5support level.
(Click on image to enlarge)
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