Wal-Mart trades sideways

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Source: Dukascopy Bank SA


Since June, the stock price of Wal-Mart Stores has been trading in a sideways range between a support zone at 135.00 and the resistance of the 152.75 level. However, it was recently spotted that the stock price faces a resistance zone at 146.70/148.20. The resistance zone reversed a recent recovery of the asset price. Most recently, the price had returned to the 140.00 level.

In the case of a decline, the stock price could once again look for support in the 135.00 mark. Although, a passing of the support level could reach the March 2021 low level at 126.50. However, round price levels like the 130.00 might stop a decline.

On the other hand, a recovery of the price would be expected to test the resistance of the 146.70/148.20 zone, before reaching the 150.00 round price level and the 2021 high at 152.75.
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