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Technical Analysis: WALMART (#WMT)

Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores from the United States, headquartered in Bentonville, Arkansas. The company was founded by Sam Walton in 1962 and incorporated on October 31, 1969.

- With the recent sell-off #WMT reached a strong area of support at USD 129

- From Dec-20 #WMT is in bearish trend however is now quite overextended to the downside and distant from the trend line

- MACD , below 0 therefore indicating bearish momentum, is reversing upward

- RSI left the oversold territory

Entry price $ 129.34

1st TP $ 134.19

2nd TP $ 140.00

SL $ 124.50

OTB Global Investments

London, 11 March 2021

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