Good technical signals and a possible breakout for WALMART INC.

Our stockscreener has identified a possible breakout setup on WALMART INC (NYSE:WMT). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:WMT for potential opportunities.

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

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

We assign a technical rating of 7 out of 10 to WMT. 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 79% of all stocks. We also observe that the gains produced by WMT over the past year are nicely spread over this period.
• WMT is part of the Consumer Staples Distribution & Retail industry. There are 41 other stocks in this industry. WMT outperforms 75% of them.
• WMT is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so WMT is performing more or less in line with the market.
• In the last month WMT has a been trading in a tight range between 58.55 and 60.89.

Our latest full technical report of WMT contains the most current technical analsysis.

Why is NYSE:WMT a setup?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:WMT is 9:

Besides having an excellent technical rating, WMT also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 60.88. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 59.80, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

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.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.