Walmart Inc. (WMT) – Daily and 1H Charts Overview

Walmart Inc. (WMT) Elliott Wave Analysis - Tradinglounge Daily Chart

Walmart Inc. (WMT) Daily Chart Overview

WMT Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {v}

Direction: Upside in wave {v}

Details: The current Elliott Wave count for Walmart Inc. (WMT) suggests that wave {iv} has likely bottomed. However, due to the extended corrective structure, there's an alternate possibility that wave (ii) is still evolving as part of wave {iv}, forming a flat correction.

Walmart (WMT) appears to be entering wave {v} on the daily chart, potentially signaling the start of a new upward move. While the primary scenario supports a bullish breakout, ongoing corrective action opens the door for wave {iv} to remain in progress within a flat correction of wave (ii).

The market's structure remains favorable for a bullish continuation, but confirmation is essential before validating the start of wave {v}.

Walmart Inc. (WMT) Elliott Wave Analysis - Tradinglounge 1H Chart

Walmart Inc. (WMT) 1H Chart Overview

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave c of (ii)

Direction: Bottoming in wave c

Details: Walmart's intraday price action on the 1-hour chart reflects a corrective flat structure in wave (ii), with wave c approaching completion. The anticipated support lies near $92, which aligns with wave c achieving parity with wave a.

The $92 level serves as a critical support zone, and a reversal from this area could confirm the conclusion of wave (ii). This would likely initiate the next bullish phase, wave {v}. Until that reversal materializes, it is advisable for traders to remain cautious and look for confirmation before considering new long positions.

Technical Analyst: Alessio Barretta

Visit: TradingLounge.com for detailed analysis and market updates.

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