Coin Analyst Investments is kicking of the new year by looking at a long term chart of Walmart (WMT).
Over a decade of price action is presented in today’s Walmart Stock analysis with emphasis placed on the bullish price swing from November 16, 2015 starting from a price low of ~$56.36. Understanding the impact of a longer time frame is crucial and a key part of strategies provided to members here.
The current move upwards from November 16, 2015 is highlighted with the use of a bullish trend line (in red) which is expected to keep offering support for any bullish position(s). However, a break below the trend line could see the price of Walmart retrace back to between 81.78 and 78.48 where another support is anticipated.
Also shown on the Weekly time frame chart is a bearish channel (tentative) that should also be considered as part of monitoring the progression of Walmart for weeks or months to follow. A break below the lower level of support (i.e. $78.48) could see prices reach the bottom of the bearish channel. Momentum is highly important in confirming which directions warrant any trade(s).
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