WMT Elliott Wave technical analysis [Video]
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WMT Elliott Wave technical overview
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave (iii) of {v}.
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Direction: Upside in wave (iii).
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Details: A potential bottom in wave {iv} appears established, supported by a completed five-wave move in wave (i) followed by a corrective three-wave move in wave (ii). A confirmed acceleration upward is needed to validate the wave (iii) bullish structure.
Daily analysis summary
The daily Elliott Wave setup for Walmart suggests the formation of wave (iii) is underway. After concluding wave {iv}, price action has shown the necessary preliminary structure to launch the next impulsive leg. Confirmation of this count will rely on sustained upward momentum, reinforcing the emergence of wave {v}’s advance.
WMT Elliott Wave technical overview
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave iii of (iii).
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Direction: Upside in microwave 3.
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Details: The chart illustrates a potential bullish breakout via a nested 1-2, 1-2 setup, signaling strong momentum. A break above the $100 TradingLevel1 would support this wave count and imply higher short-term targets.
One-hour analysis summary
The 1-hour Elliott Wave perspective indicates an imminent acceleration within wave iii of (iii). The nested structure suggests growing bullish pressure. A confirmed move above $100 will act as a key validation point, aligning with the broader uptrend noted in the daily chart.
WMT Elliott Wave technical overview [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
