WMT Technicals Deteriorate at $118.90 Level
Walmart Inc (WMT) ticked higher by 0.31% to $118.90 on May 28.
The technical picture is bearish:
Momentum
RSI at 32.6 is in neutral territory but trending lower. MACD reads -2.04 against its -0.35 signal line (bearish).
Moving Averages
The stock trades below its 9-day EMA ($123.32) with the 21-day ($126.23) acting as overhead resistance.
Volatility
Bollinger Band width at 16.3% indicates normal volatility.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $117.79.
Traders are watching $117.79 on the downside and $138.68 on the upside.
