Walmart’s (WMT) shares opened higher as its earnings report surpassed expectations. EPS and revenues beat expectations. Moreover, the company increased its sales guidance for next year by a full percent.
As its latest earnings report reminded us, Walmart is doing very well financially. Furthermore, its share price has surged, reflecting the company’s health. While the price of Walmart shares should increase with its fundamentals, we must ask if the stock performance is commensurate with earnings. This is where technical analysis can look beyond fundamental analysis and play an important risk management role for shareholders.
Over the last year, Walmart shares have risen by nearly 100%. As the longer-term weekly graph below shows, Walmart’s Williams R% and
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