In today’s article, we’ll be taking a look at the current for the world’s largest retailer Walmart (NYSE: WMT).
Since August 2019, WMT rallied within an impulsive 5 waves advance which took the stock to new all time highs before the cycle ends on November at $125.69. Down from there, it started a correcting lower that unfolded in 3 waves move as a which reached the equal legs area at $113.7 – $108.6. The blue boxes presented in the chart is a High-frequency area where the instrument is likely to end cycle and make a turn in favor of the main trend which is in the case of Walmart to the upside. Therefore, we are expecting the stock to start another bullish cycle aiming for a break to new all time highs with a target round $134 – $140 area.