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.
This content is for informational purposes only and is not intended to be investing advice.
