Walmart shares have recently continued their planned sell-off, further extending magenta wave (C). Although the stock has traded in a narrow sideways range since last Wednesday, a further decline appears likely in the near term. The downward move is expected to bottom out at the low of green wave [4], within the corresponding Target Zone between $80.18 and $72.42. There is still a 39% chance of a short-term breakout above resistance at $105.68, which would mark a new corrective high.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.