Walmart (NYSE:WMT) $120 target precedes a dip

Elliott Wave Forecast Team ElliottWave-Forecast.com

Walmart (NYSE: WMT) continues to lead the market following its rebound last year. Today, we examine the Elliott Wave structure behind its current breakout. This analysis charts the precise pathway and key upside targets for its next advance. Our technical blueprint reveals a compelling setup, driven entirely by strong momentum.

Elliott Wave analysis

WMT’s recent rally originated from the $86 – $77 Blue Box area. Specifically, buyers emerged during the April 2025 market dip. Subsequently, the stock concluded its wave IV pullback. Then, it traded into new all-time highs within the current wave V.

Currently, it shows three swings into new highs. Therefore, the sequence remains incomplete. Consequently, it needs at least one more swing to finish its five-wave advance from the April low.

Importantly, WMT already trades within the $111 – $120 initial target zone. Hence, investors should avoid chasing the rally here. After wave ((III)) completes, a larger wave ((IV)) pullback will begin. This correction will then create the next strategic buying opportunity before the uptrend resumes.

WMT weekly chart 1.06.2026

Conclusion

WMT’s weekly bullish cycle remains firmly intact. Therefore, investors should target buying opportunities within weekly pullbacks. Utilize our Elliott Wave strategy for precise entry timing. Specifically, establish positions after a 3, 7, or 11-swing correction completes. Additionally, our proprietary Blue Box system pinpoints high-probability entry zones. Consequently, this disciplined

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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