Will WALMART INC breakout?

WALMART INC (NYSE:WMT) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:WMT.

What is the technical picture of NYSE:WMT telling us.

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall WMT gets a technical rating of 7 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• When comparing the yearly performance of all stocks, we notice that WMT is one of the better performing stocks in the market, outperforming 86% of all stocks. We also observe that the gains produced by WMT over the past year are nicely spread over this period.
• WMT is one of the better performing stocks in the Consumer Staples Distribution & Retail industry, it outperforms 87% of 49 stocks in the same industry.
• WMT is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so WMT is lagging the market slightly.
• In the last month WMT has a been trading in the 145.01 - 154.35 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

How does the Setup look for NYSE:WMT

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:WMT currently has a 8 as setup rating:

WMT has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 153.22. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 149.67, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:WMT?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.