Walmart - Weekly

Walmart is expected to report an EPS of $1.69 on revenue of $159.76bn.

Taking a look at Walmart as the retail giant is reporting earnings tomorrow. The company is expected to report an EPS of $1.69 on revenue of $159.76bn. Currently, its stock is trading at around $160.81 in pre-market trading. Looking at the chart based on the weekly timeframe, the price has reached its all-time high level but failed to close above it. A new high of $162.89 was reached but the price soon retraced to current levels. The earnings could be a make or break for this one in the short term, a positive outcome may see a move above the resistance setting a new all-time higher. On the other hand, we may see a strong rejection and a pullback towards the supportive trendline where support is located at $155.11 (ascending dotted trendline). A break below this trendline support would not necessarily mean that the longer-term outlook has shifted, as there is further support at $152.69 and major support along the green trendline ($150.30). Looking at the technical indicators, MACD is still positive but volume seems to be lowering and the RSI remains positive as it reads 63.