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JasonMP91
Nov 20, 2021 6:43 PM

Walmart (WMT) - A Potential Pullback to About $130? Short

Walmart Inc.NYSE

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Hello all,

Walmart is showing a clear double top formation and has gone under its 20 week SMA. In the last few years, this has signaled a pullback of about 10% being in the cards, though I have circled in bright green 3 incidents where this did not take place. The double top formation, the historical trend, as well as the recent strength of tech stocks, and the inflation scares leading to a weakening of performance in retail/consumer stocks all lead me to believe that a pullback to $130-$135 is highly likely.

All the best,
Jason
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