Walmart [WMT] – Daily Price Forecast – March 18

Walmart [WMT] Analysis
Walmart [WMT] – Daily Price Forecast – March 18
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Walmart stock price has seen some major drops in 2018, particularly during the early summer. The drop which started early in the year saw the largest drop in May and June 2018, where the stock price dropped to around $82. This was followed by a large growth, one which even led to some extreme heights as the year approached its end.

One particularly strong surge in November brought the WMT price all the way up to $108, which is the highest that the price has been in the past year. However, this is when the price crashed, and while it was stopped by a strong support level at around $96, and it even managed to grow once more, a massive drop followed in December, and WMT price is still recovering from it.

Walmart stock price’s largest drop

As mentioned, those who were looking to buy stocks had a few excellent opportunities to do so in mid-2018, but also in the final days of the year. The December drop saw Walmart stock price sink all the way down to $85, which is only slightly better than the drop during the early summer.

Walmart [WMT] chart 1
Source: Nasdaq
The December drop came to its worst on December 24th, after days of the bearish movement. However, it did not remain down for long, and as soon as December 25th arrived, the price surged, pretty much undoing the damage seen throughout December. Those who took the opportunity to buy Wallmart stocks were undoubtedly profiting from the decision, and WMT ended the year after breaching the resistance level at $92, with a value of around $93.15.

After a day or two of stability, the price recovery continued in 2019, although that does not mean that things were going smoothly for the price of Walmart stock.

Walmart stock price in 2019

As mentioned, the growth continued in the new year, and WMT price quickly managed to overcome its next big resistance, at $94. It also managed to breach the one at $95 with no issues, although it took several weeks to bring it to $96. This finally happened on January 15th and breaching this resistance level allowed Walmart stock price to experience another surge.

Walmart [WMT] Chart 2
Source: ZACKS
While the early January price growth was relatively steady, the one in the second half of the month was much sharper. WMT price surged towards the $100 mark but was stopped by strong resistance at $98. The resistance held for several days but was eventually breached. However, this the market turned bearish in this instant, and WMT price was once again rejected and pushed down.

By the end of January, WMT price undid most of its progress made in 2019, breaking several big supports in the process, and ending January with a price of $94. For those optimistic about it, this was also a good period to buy Walmart stock, as the drop ended as soon as February started. Since then, WMT price saw another massive surge, breaking resistance at $94, $96, $100, and even $102 within three weeks.

The $102 level finally stopped the growth, and it pushed the price back down as February approached its end. However, the new support at $98 was as strong as it was back when it was a resistance, which allowed it to prevent the price from dropping further.

This is pretty much where the price has been throughout the first half of March, and it is possible that WMT is preparing for another surge. At the time of writing, the WMT price is at $98.42, and while its 2019 behavior typically used the first half of the month for growth, and the second half for minor corrections, the price of Walmart stocks is not seeing drops at the moment, but slight gains, which may grow into something bigger in the following days.

About Ali Raza

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A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.