Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....
9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius
Walmart Inc.’s stock is currently trading at 123.77-higher by 3.78% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 3.57%. The stock has pared all of its earlier losses and turned positive after the opening bell.
Investment bank Credit Suisse upgraded the retailer’s stock. The investment bank upgraded Walmart’s rating to Outperform from Neutral. Credit Suisse upgraded the retail giant’s stock as it believes the company may grow market share due to coronavirus-inspired, long-term structural change in consumer buying habits.
The investment bank thinks this period accelerating structural changes in consumer shopping as they are introduced to new shopping methods and further consolidate purchases at multi-channel retailers. This change should favor the retail giant. Walmart report lower-than-expected fourth-quarter earnings in the last month. Stocks of Walmart have rallied about 3% Year-to-date.
On the technical front, the RSI is currently at 57.8% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.
TRADE SUGGESTION- LIMIT BUY AT 123.50 TAKE PROFIT AT 127.50 STOP LOSS AT 121.50