Home
News
- Walmart is looking to display strength as it near to its next quarter with an increase in revenue
- Technical indicators of WMT are favoring consolidation. It is trading near $142 with a gain of 0.615% in the intraday session
Walmart is a multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. Headquartered in Bentonville, Arkansas, the company was founded by Sam Walton in 1962 and has since grown to become one of the largest retailers in the world, with over 11,500 stores in 27 countries. It is known for its low prices and wide variety of products, including food, clothing, electronics, and household goods. Walmart stock price is showing strength as it reaches the next quarter. They are expected to report an EPS of $1.96 for the next quarter which is slight down from the previous year.
Walmart has a market cap of $383.5 Billion and can see a strong growth in the future. It is just inches away to reach its 52 week high. Many analysts are expecting a strong growth in the future.
Will Bulls Push WMT Stock Price?
Walmart stock price has seen a drop from $154 to $142 within a few days. The bulls of Walmart are resting as per the weekly technical chart. WMT is currently trading near $142 with a gain of 0.6% in the intraday session. Resistance of Walmart stock price can be seen near $160. The support of the asset price can be seen near $120. It is currently trading below the 50 and above 100 DMA. If it sees a positive crossover above 100 DMA then a strong upside trend can be seen in the future.
Conclusion
Walmart may see strong gains in the next financial quarter. WMT stock price is currently in a consolidation but can see a jump to $200 in 2023 as per various analyst.
Technical Levels
Major Resistance:$160
Major Support: $120
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 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.
