Walmart recovers handsomely - Analysis - 19-05-2017

Walmart's stock (WMT) surged in the intraday levels, scoring a profit of 3.22% in the last session, or 2.42 points, amid an influx of negative signals from relative power indicators, after reaching extremely oversold levels compared to the stock's movement, readying thereafter to tackle the resistance of 77.73, which represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 190.97 to 56.30), amid positive pressure from the 50-day SMA, coupled with a noticeable rise in trading volumes. 

Therefore we expect more gains for the stock, provided it pierces the resistance of 77.73, targeting the next one at 82.79, which represents the ratio 78.6% of the same retracement levels.