Walmart Inc. (WMT) declined in its latest intraday trading after holding below the key resistance level of 105.30. This pullback comes as the stock attempts to ease overbought conditions on the RSI, which has been flashing negative signals. Still, the stock retains bullish momentum, supported by the dominant upward trend and trading along a short-term ascending slope. Added to that, staying above the 50-day SMA continues to provide dynamic support, strengthening the chances of a rebound.
Therefore, we expect the stock to rise in upcoming intraday trading, as long as support at 100.40 holds, with the main target being the tough resistance at 105.30.
Today’s price forecast: Bullish.
JPMorgan Chase & Co. (JPM) advanced slightly in its latest intraday trading, supported by ongoing bullish momentum on the medium-term trend as the stock moves along a short-term ascending slope. It remains buoyed by dynamic support from trading above its 50-day SMA. However, RSI readings have reached overbought levels, generating negative signals that capped the recent gains.
Therefore, we expect the stock to rise in upcoming intraday trading, as long as support at 300.90 holds, targeting the resistance level at 328.35.
Today’s price forecast: Bullish.
Visa Inc. (V) declined in its latest intraday trading after encountering resistance at the 50-day SMA. The stock remains under the influence of a short-term corrective downtrend, moving along a descending slope, which amplified the negative pressure and forced this retreat. This comes after earlier price action successfully unwound RSI oversold levels, leaving room for further losses.
Therefore, we expect the stock to fall in upcoming intraday trading, as long as resistance at 352.65 holds, targeting the key support level at 328.70.
Today’s price forecast: Bearish.
UnitedHealth Group Incorporated (UNH) rose in its latest intraday trading, supported by ongoing moves above the 50-day SMA and under the influence of a short-term corrective uptrend. In addition, the RSI is showing early signs of a bullish crossover after previously reaching oversold levels, hinting at a developing positive divergence that strengthens upside potential.
Therefore, we expect the stock to rise in upcoming intraday trading, as long as it holds above 326.55, targeting the resistance level at 376.85.
Today’s price forecast: Bullish.