Walmart Inc
price prediction

Walmart Inc: Can WMT Stock Price Break $160 to New Heights?

  • Walmart Inc.’s (NASDAQ: WMT) price prediction reveals the strong bullish sentiment of the WMT stock price.
  • WMT stock surged 20.15% in the last year.
  • WMT stock price is approaching an all-time high of $160.

Walmart Inc.’s (NASDAQ: WMT) price prediction highlights the overall bullish strength of the market since June 2022. The WMT stock price creates a series of higher highs and higher lows as the price moves up. The WMT stock price got a correction of 5.44% after reaching resistance at $154.24. The stock price took support at $145.07 and made a recovery of 6.73% to its current market price.

At the time of writing, Walmart Inc. closed its trading session on Tuesday, 18th July 2023 at 154.57. This marked a decline of 0.18% over the day before.

Can Walmart Inc. Ascent to New Heights?

Walmart-Inc analysis
Source: WMT 1D Chart by TradingView

Walmart Inc.’s stock price prediction indicates that the WMT stock price is under a bullish influence and has attracted a lot of investment over the past year. The buyers are not shying away from the rising price. The WMT stock breached the resistance of $154.21, peaking at $159.12. It was followed by a correction of 3%, where the market is trying to retest the resistance, which has turned into support. Also, the stock price is supported by an ascending trendline which is a significant support level.

Moreover, the WMT stock price floats above the 200 EMA, which signifies bullish strength. Another observation reveals that the volume is declining with the price rise. It may hint at some corrections in the future. Meanwhile, the price is making a double top pattern, which can be analyzed further in the 4-hour timeframe.

Will the WMT  Stock Price Sustain its Bullish Momentum?

WMT Stock Price
Source: WMT 4-Hour Chart by TradingView

According to the 4-hour chart, the WMT stock price has been trading above the 200 EMA, which is a bullish sign. The price saw a bounce from the support, which led the price to breach the resistance. However, the price action is forming a double-top pattern above the resistance. This is a trend reversal pattern, usually formed at the top.

A breakdown of this pattern will lead to a decline of 3.29% to the target price of $149.2, bringing it closer to the 200 EMA. As of now, the market is maintaining support, and the trend remains intact. The overall trend will be at risk only if the price drops below the ascending trendline. Until then, the bulls will be buying at the pullbacks.

RSI: The RSI indicator is currently at 47.37 It represents a bearish to sideways condition where the market may continue to slide down until the RSI goes above 50.

MACD: MACD is getting ready to make a bullish crossover above the 0 line. It suggests that the correction may be getting over soon and the price may continue to move up.

200 EMA: On the 4-hour chart, the price is trading above the 200 EMA. It indicates that the market is under buy pressure and the buyers are in control. The 200 EMA will act as significant support. The WMT stock price will continue to move up until it breaks below the indicator.


Walmart Inc.’s (NASDAQ: WMT) price prediction highlights the overall bullish strength of the market since June 2022. The stock has been rising despite global economic tensions. The investors are betting on the long-term growth of the WMT stock. At present, the price is consolidating above the primary resistance. It would be wise to wait for a bullish pattern like a bull pennant to consider buying. The best way to deal with the current situation is through risk management.

Technical Levels 

  • Support level: $154.21
  • Resistance level: $159.26

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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