Oversold WMT May Be Primed for Bounce at $115.75
Walmart Inc (WMT) closed down 2.65% at $115.75 on May 31.
Technical indicators paint a bearish picture:
Moving Averages
Price sits below both the 9-day ($121.80) and 21-day ($125.28) EMAs, suggesting short-term weakness.
Momentum
RSI at 28.5 is depressed in oversold territory, where bounces often originate. MACD reads -2.59 against its -0.80 signal line (bearish).
Volatility
Price has pierced the lower Bollinger Band ($115.81), which often precedes a bounce.
While EMAs remain bearish, the oversold RSI reading hints at potential support around $115.81.
Key levels to watch: Support at $115.81, Resistance at $139.04.
