Walmart parks at pivotal support - Analysis - 10-12-2018

Walmart's stock kept falling in the short term, amid the dominance of the downward correctional wave in the short term, while parking at the pivotal support of 92.90, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 65.28 to 109.98), with negative pressure from the 50-day SMA, coupled with negative signals from the RSI. 

Therefore we expect more losses for the stock, especially if the support of 92.90 was breached, targeting the next one at 87.63, which represents the ratio 50% of the same retracement levels. 

Expected trend for today: Bearish