Walmart may rise to 69.30 - 70.80

61.7 is our pivot point.

Our preference

The upside prevails as long as 61.7 is support.

Alternative scenario

The downside breakout of 61.7 would call for 59.3 and 57.8.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 60.3955 and 60.3384). Finally, Walmart is trading above its upper Bollinger band (standing at 63.24).

Supports and resistances

72.3 **

70.8 *

69.3 **

67.9

64.65 (USD-last)

62.7

61.7 **

59.3 *

57.8 **

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