Walmart Inc. (WMT) Stocks Elliott Wave Technical Analysis

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WMT Elliott Wave Analysis Trading Lounge Daily Chart,

Walmart Inc., (WMT) Daily Chart

WMT Elliott Wave Technical Analysis

 

FUNCTION: Trend

MODE: Impulse

STRUCTURE: Motive

POSITION: Minor wave 3 of Intermediate (3).

DIRECTION: Upside in wave 3.  

DETAILS: We are looking for Minor wave 3 to unfold in front of our eyes. We could be seeing a potential top in wave {iii}, as we are in an higher degree wave (5) we could also end up forming an ending diagonal.

 

 

 

WMT Elliott Wave Analysis Trading Lounge

Walmart Inc., (WMT) 4Hr Chart

WMT Elliott Wave Technical Analysis

 

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Zigzag  

POSITION: Wave (a) of {iv}.  

DIRECTION: Downside into wave {iv}.

DETAILS: We could have topped before Medium Level 65$ or else we have not completed wave {iii} yet. We have however reached equality of wave {iii} vs. {i} at 60.84$.

 

Technical Analyst : Alessio Barretta

 

Source : Tradinglounge.com get trial here!

 

 

 

 

Welcome to our WMT Elliott Wave Analysis Trading Lounge, where we delve into Walmart Inc. (WMT) using Elliott Wave Technical Analysis. Let's explore the market dynamics on the Daily Chart.

*WMT Elliott Wave Technical Analysis – Daily Chart*

Our analysis indicates a trending function characterized by impulse mode and motive structure, positioned in Minor wave 3 of Intermediate (3). The direction signals an upside momentum in wave 3. As we observe the unfolding of Minor wave 3, there's potential for a top formation in wave {iii}. Considering the higher degree wave (5), there's also the possibility of forming an ending diagonal pattern.

*WMT Elliott Wave Technical Analysis – 4Hr Chart*

Here, we identify a counter trend function marked by corrective mode and zigzag structure, positioned in Wave (a) of {iv}. The direction indicates a downside trajectory into wave {iv}. There's a possibility that we've reached a top before Medium Level $65, or alternatively, wave {iii} might not have completed yet. However, it's noteworthy that we've reached equality of wave {iii} versus {i} at $60.84.