Current trend

Shares of Walmart Inc., an American company that manages the world’s largest wholesale and retail trade network, have been trading in a sideways channel for a month and a half at 156.25–162.50 (Murrey level [2/8]–[4/8]).

Last week, the quotes reversed from its lower border and resumed growth. The central level of Murrey’s main trading range of 162.50 (Murrey level [4/8]) is the key “bullish” level, and consolidation above it will allow the price to reach the reversal level of 168.75 (Murrey level [6/8]). If 156.25 (Murrey level [2/8]) is broken down, the decline can continue to 150.00 (Murrey level [0/8]) and 146.88 (Murrey level [–1/8]). In any case, a serious movement is expected only after the asset finally leaves the channel of 156.25–162.50.

Technical indicators do not give a single signal: Bollinger Bands are horizontal, the MACD histogram is at the zero line, its volumes are insignificant, and Stochastic is directed upwards.

Support and resistance

Resistance levels: 162.50, 165.62, 168.75.

Support levels: 156.25, 150.00, 146.88.

Trading tips

Long positions may be opened above 162.50 with the targets at 165.62, 168.75 and stop loss around 160.40. Implementation time: 5–7 days.

Short positions may be opened below 156.25 with the targets at 150.00, 146.88 and stop loss around 158.40.