Jump to content

Walmart Inc. (WMT) Stocks Elliott Wave Technical Analysis


Recommended Posts

Posted

WMT Elliott Wave Analysis Trading Lounge Daily Chart,

Walmart Inc., (WMT) Daily Chart 

WMT Elliott Wave Technical Analysis

FUNCTION: Counter Trend 

MODE: Corrective 

STRUCTURE: Zigzag 

POSITION: Minor 4 

DIRECTION: Downside in wave 4 

DETAILS: After topping at 72$, we are looking for further downside into wave 4 to at least reach Medium Level at 65$.

Stocks24(1).thumb.png.9e110db5a7e57f58cdda61f840af3281.png

 

WMT Elliott Wave Analysis Trading Lounge 4H Chart,

Walmart Inc., (WMT) 4H Chart 

WMT Elliott Wave Technical Analysis

FUNCTION: Counter Trend 

MODE: Corrective 

STRUCTURE: Zigzag 

POSITION: Minute wave {a}. 

DIRECTION: Bounce in wave {b}. 

DETAILS: Looking for a bounce in wave {b} to ideally reach the wave (ii) of the diagonal at around 69$, to then fall back into wave {c}.

Stocks24.thumb.png.b63a593c8fb6864385e3f3ae470dbc1e.png

 

Welcome to our latest Elliott Wave analysis for Walmart Inc. (WMT) as of August 12, 2024. This analysis provides an in-depth look at WMT's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on WMT's market behavior.

* WMT Elliott Wave Technical Analysis – Daily Chart* 

After topping out at $72, WMT is expected to continue its decline into wave 4. The anticipated downside target for this wave is the Medium Level around $65, where we may find support. Traders should watch for signs of a bottom forming in this area before considering any long positions. 

* WMT Elliott Wave Technical Analysis – 4H Chart* 

WMT has likely completed wave {a} of the zigzag correction and is now expected to see a bounce in wave {b}. This bounce could ideally reach the area around $69, which corresponds to the wave (ii) of the preceding diagonal. Following this bounce, the price is expected to fall back into wave {c} to complete the overall correction in wave 4.

Technical Analyst Alessio Barretta

Source : Tradinglounge.com get trial here!

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Did anyone from here file a suit against IG for XRP delisting ??.. how come they are now allowing a product relayed to ripple … I hope someone is active out on this front 
    • I’ve been exploring RWA (Real-World Asset) projects to focus on this festive season. Currently, I hold ONDO and QNT, but INK Finance (Quill) has caught my attention due to its robust and versatile features. Here’s why:     INK Finance acts as financial infrastructure for protocols, DAOs, and RWA originators, enabling them to:   - Earn yield.   - Manage treasuries.   - Tokenize real-world assets (RWAs) with a focus on compliance and integrity.     The platform provides a scalable solution for web3 DAOs, protocols, and asset managers, empowering them to:   - Customize asset management and governance frameworks through a no-code interface.   - Establish on-chain credit and financial competence.     INK Finance offers a comprehensive, frictionless solution for organized financial activities, combining scalability and customizability.     With its token now available on BingX Spot, I’m planning to take a position around the support zone, that is being respected, looking at the chart below, if the price of QUILL break my bearish trendline on the chart, I will ape in to hold long term, with the current market trend and how are are going into the altcoin season, I'm hoping it'll break the ATH. Trade QUILL Here Sign up on BingX Here  
    • I tried out Ink Finance ($QUILL), and it feels like a game changer for anyone managing DAOs or looking into RWA tokenization and with the no-code framework makes it super accessible, even for traders like me. Also, seeing how it bridges traditional finance and Web3 has been eye-opening and It’s amazing how far DeFi tools have come this one looks tailored for scalability and compliance. Currently listed on BingX, and I’m excited to see where it goes from here. If you’re into DAOs or crypto governance, this is worth checking out.  
×
×
  • Create New...
us