Walmart Stock Price Await for Dividends, Here’s an Overview

• Walmart stock price is declining after forming an inverted hammer candle on November 28.
• The share price is going to retest the 20 day moving average on the daily price chart.
• Investors are looking forward to the dividend, which is scheduled for December 8.

An American international retail corporation- Walmart published its company’s earnings and revenue on 15 November, showing an 8.74% increase in revenue at ₹152.81 billion in its third quarter results. Buyers took a bullish outlook on Walmart stock price after the result, which pushed the price towards $154.64 mark, which was the highest price level in last six months.

Between pump and dump the market is getting ready for the dividend. The next dividend is estimated to be 0.56 USD. The dividend yield (TTM) % till date is 1.47%. This increase in dividend could further boost asset prices as Walmart stock price is not far from its all-time high of $160.7.

In the letter of 6 December, Walmart stock price fell 1.16% and daily price candlestick closed at $149.89 mark. This selling occurs because sellers spotted an Inverted hammer candle on 28 November. However, selling pressure is not high compared to other days, it happened because of global market decline as NASDAQ fell 2% at 11,014.8 and Dow Jones plumped 1.03% at 33,596.3.  

However, Walmart stock price is outperforming from June’s lower level. Despite the fact, the trend reversal shows lower-highs formation for short-term outlook since last week. Trading volume also increases together with the retracement phase, reported at 6.87 Million. Therefore, the share price is going to retest the 20 day moving average on the daily price chart.

As of now, the 20 DMA is seen as an immediate support line. If there is a downside break below this level, the price could decline towards the $143 level. On the higher side, the bears are waiting for a heavy sell-off near the $16 mark. Meanwhile, the RSI has already indicated downward momentum and the MACD reflected a bearish crossover last night.

Conclusion

Walmart stock continues to slide after hitting a six-month high. Traditional technical indicators like RSI and MACD are supporting the upcoming decline but the 20-day EMA is still holding immediate support.

Support level – $138 and $130

Resistance level – $153 and $160

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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