Walmart's stock fell in the intraday levels, recording a new loss of 0.65% in the last session, or 0.44 points, while settling below the pivotal resistance of 67.97, which represents the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 56.30 to 75.19), as we note relative power indicators have reached extremely overbought saturation compared to the stock's downward movement, while getting hurt by piercing the upside trend line previously in the short term, with ongoing negative pressure from the SMA for the last 50 days period.
Therefore we expect more losses to come for the stock, targeting the support of 65.75, which represents the ratio 50% of the same retracement levels mentioned earlier, as long as the resistance of 67.97 holds on.