Since the end of August 2020, Walmart has been trading in the range of 135.50 – 146.50 periodically bouncing out of it but still returning.
Yesterday, the stock price again reached the lower boundary of the range touching it.
The DeMarker indicator entered the oversold zone signaling a possible end of the decline and resumption of growth of stocks.
In relation to fundamental factors, three quarters in a row, the company’s profits exceed predictions, which is encouraging. Plus, Walmart actively restructures its business investing billions in the e-commerce sphere.
All mentioned above agues in favor of resumption of the Walmart growth to the upper boundary of the range.