WMT Elliott Wave analysis trading lounge daily chart
Welcome to our WMT Elliott Wave Analysis Trading Lounge, where we delve into Walmart Inc. (WMT) using Elliott Wave Technical Analysis. Let's explore the market dynamics on the Daily Chart.Walmart Inc., (WMT) Daily Chart.
WMT Elliott Wave Technical Analysis.
Function: Trend.
Mode: Impulse.
Structure: Motive.
Position: Minor wave 3 of Intermediate (3).
Direction: Upside in wave 3.
Details: We are looking for Minor wave 3 to unfold in front of our eyes. We could be seeing a potential top in wave {iii}, as we are in an higher degree wave (5) we could also end up forming an ending diagonal.
WMT Elliott Wave technical analysis – Daily chart
Our analysis indicates a trending function characterized by impulse mode and motive structure, positioned in Minor wave 3 of Intermediate (3). The direction signals an upside momentum in wave 3. As we observe the unfolding of Minor wave 3, there's potential for a top formation in wave {iii}. Considering the higher degree wave (5), there's also the possibility of forming an ending diagonal pattern.
WMT Elliott Wave analysis trading lounge
Walmart Inc., (WMT) 4Hr Chart.
WMT Elliott Wave Technical Analysis.
Function: Counter Trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave (a) of {iv}.
Direction: Downside into wave {iv}.
Details: We could have topped before Medium Level 65$ or else we have not completed wave {iii} yet. We have however reached equality of wave {iii} vs. {i} at 60.84$.
Technical Analyst: Alessio Barretta.
WMT Elliott Wave technical analysis – Four hour chart
Here, we identify a counter trend function marked by corrective mode and zigzag structure, positioned in Wave (a) of {iv}. The direction indicates a downside trajectory into wave {iv}. There's a possibility that we've reached a top before Medium Level $65, or alternatively, wave {iii} might not have completed yet. However, it's noteworthy that we've reached equality of wave {iii} versus {i} at $60.84.
WMT Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD clings to modest gains above 1.0850 ahead of Fedspeak
EUR/USD trades marginally higher on the day above 1.0850 on Tuesday. In the absence of high-tier data releases, the cautious market mood helps the USD hold its ground and limits the pair's upside. Investors will continue to scrutinize comments from central bank officials.
GBP/USD stays in positive territory above 1.2700, awaits fresh catalysts
GBP/USD holds small gains above 1.2700 in the second half of the day on Tuesday. Investors await fresh catalysts, with several Federal Reserve speakers and BoE Governor Andrew set to speak. Tuesday's Fedspeak weighed on rate cut expectations and helped the USD find a foothold.
Gold rebounds above $2,420 following earlier decline
Gold gained traction and climbed above $2,420, erasing a large portion of its daily losses in the process. The pullback in the benchmark 10-year US Treasury bond yield helps XAU/USD stage a rebound following the sharp retreat seen from the all-time high set at the weekly opening at $2,450.
Shiba Inu price flashes buy signal, 25% rally likely Premium
Shiba Inu price has flipped bullish to the tune of the crypto market and breached key hurdles, showing signs of a potential rally. Investors looking to accumulate SHIB have a good opportunity to do so before the meme coin shoots up.
Three fundamentals for the week: UK inflation, Fed minutes and Flash PMIs stand out Premium
Sell in May and go away? That market adage seems outdated in the face of new highs for stocks and Gold. Optimism depends on the easing from central banks – and some clues are due this week.