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- Walmart has reported a net loss of $1.8 Billion in the September quarter. Meanwhile, US stores in Walmart has recently witnessed shootings.
- WMT may see a continuation in the rally. It is currently trading near $152 with a 0.36% gain
Walmart September quarter has seen an 8% year on year growth. It has reported a net revenue of $152.8Billion with an operating profit of $6 Billion. The ecommerce side of this has seen a growth of 16% from the past year. Meanwhile, Walmart stores in the US has witnessed a massive shooting killing several people in Virginia. Walmart has condoned this action and said will be there for the impacted ones.
Walmart has an overall market cap of 411 Billion with an EPS of 3.25.WMT price is near its 52 week high and if it crosses it a strong rally could be seen. Various analysts are predicting a momentum till $200.
Bulls Of WMT Are Ready For Run
The weekly technical chart of the Walmart stock price suggests an upside trend. It is seeing a strong momentum and can soon cross the 52 week high. On the daily chart it is currently trading near the value of $152 with a gain of 0.36%. Resistance for the WMT price can be seen near $162. Meanwhile the support of the asset price can be observed near $140. It is trading above 50 and 100 Daily Moving Average. The 50 and 100 DMA can see a positive crossover which can push the price to a new high.
Conclusion
Walmart has seen a strong growth in the previous quarter and can do the same in next. The stock price is currently in a strong upside trend and can cross its 52 week high soon.
Technical Levels
Major Support:$140
Major Resistance: $162
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
