Walmart may rise to 70.00 - 71.50

Our pivot point stands at 62.6.

Our preference

The upside prevails as long as 62.6 is support.

Alternative scenario

The downside breakout of 62.6 would call for 60.1 and 58.6.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 61.401 and 60.6574).

Supports and resistances

73 **

71.5 *

70 **

68.5

64.84 (USD-last)

63.6

62.6 **

60.1 *

58.6 **

Number of asterisks represents the strength of support and resistance levels.