Walmart gives in to negative pressure - Analysis - 18-05-2018

Walmart Stores' stock (WMT) fell in the intraday levels, recording a loss of 1.90% in the last session, or 1.64 points, after touching the resistance of the 50-day SMA, getting exposed to negative pressure and almost leaning on the support of 83.14, , which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the long term (from 56.30 to 109.98).

Therefore we expect more losses for the stock, especially if the support of 83.14 was breached, targeting the next one at 76.81, which represents the ratio 61.8% of the same retracement levels.