Elliott Wave Analysis for Walmart Inc. (WMT) This Elliott Wave analysis for Walmart Inc. (WMT) examines the current market structure and potential future movements using Elliott Wave principles. The analysis provides insights from both the daily and 4-hour charts to offer a detailed understanding of WMT's price action and anticipated trends.
WMT Elliott Wave Analysis Trading Lounge Daily Chart
Walmart Inc. (WMT) Daily Chart Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minute {v}
Direction: Top in wave {v}
Details: We are looking for a five-wave move into Minute {v}. Considering wave {iii} was near equality of wave {i}, we could expect an extension in wave {v}. We also just surpassed the 0.618 projection of wave {v} compared to wave {iii}, with equality being the next target at $72.
WMT Elliott Wave Technical Analysis
We are looking for a continuation of the five-wave move into Minute wave {v}. Given that wave {iii} was near the equality of wave {i}, there is an expectation for an extension in wave {v}. The recent surpassing of the 0.618 projection of wave {v} compared to wave {iii} suggests that the next target is the equality projection, which is approximately at $72. This level could act as significant resistance and a potential completion point for wave {v}.
WMT Elliott Wave Analysis Trading Lounge 4Hr Chart
Walmart Inc. (WMT) 4Hr Chart Analysis
Elliott Wave Analysis of WMT
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (iv) of {v}
Direction: Bottom in wave (iv)
Details: We see volume increasing on the moves up of wave (iv), which gives us additional confirmation we are in a corrective phase.
WMT Elliott Wave Technical Analysis
The analysis indicates that wave (iv) is currently unfolding, and there is an increase in volume during upward movements within wave (iv), confirming that we are in a corrective phase. This suggests a consolidation or pullback phase before resuming the final leg up in wave {v}. The end of wave (iv) will set the stage for the last impulse to complete the entire wave {v} structure.
Technical Analyst: Alessio Barretta
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