Walmart regains footing - Analysis - 06-09-2018

Walmart's stock rose 1.32% in the last session, or 1.26 points, settling back above 95.88, which represents the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 109.98 to 81.78), while the Relative Strength Index reached oversold levels compared to the stock's movements, hinting at a positive divergence forming in the Stochastic indicator as shown below the attached chart, with positive pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, targeting the next resistance of 99.21, representing the ratio 61.8% of the same retracement levels, as long as it settles above 95.88. 

Expected trend for today: Bullish