Walmart Inc.Short
Walmart (WMT) - A Potential Pullback to About $130?
Hello all,
Walmart is showing a clear double top formation and has gone under its 20 week SMA. In the last few years, this has signaled a pullback of about 10% being in the cards, though I have circled in bright green 3 incidents where this did not take place. The double top formation, the historical trend, as well as the recent strength of tech stocks, and the inflation scares leading to a weakening of performance in retail/consumer stocks all lead me to believe that a pullback to $130-$135 is highly likely.
All the best,
Jason
Walmart is showing a clear double top formation and has gone under its 20 week SMA. In the last few years, this has signaled a pullback of about 10% being in the cards, though I have circled in bright green 3 incidents where this did not take place. The double top formation, the historical trend, as well as the recent strength of tech stocks, and the inflation scares leading to a weakening of performance in retail/consumer stocks all lead me to believe that a pullback to $130-$135 is highly likely.
All the best,
Jason
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.