Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Walmart's stock fell 1.15% in the last session, or 1.04 points, after getting weighed down by a harmonic pattern that formed in the short term, the Lightning Bolt pattern as shown in the attached chart, with negative signals from the Relative Strength Index after reaching extremely overbought levels, countered with positive support from the 50-day SMA, while the stock trades alongside the upward short-term trend line.
Therefore we expect more losses for the stock, as long as the resistance of 89.66 holds on, targeting the support of 86.39.