United

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Walmart Inc. (NYSE: WMT) released earnings on August 17 and posted better-than-expected results.&nbsp;</a> </li> 
 <li> <span>2</span> <a>WMT stock is in an uptrend in a broader timeframe and 10% up year to date.&nbsp;</a> </li> 
</ul> 
<p>The growing inflation and looming threat of recession grappled with the economic activities across the market in the United States. The retail sector was among the early adopters of normalcy and retail giant Walmart Inc. (NYSE: WMT) maintained the lead. WMT stock price gained over 10% since the beginning of the year.&nbsp;</p> 
<p>The retail industry faced the consequences of market complexities during this time. However, the macroeconomic conditions got better and Fed interest rates were not of enough worry, the market took a sigh of relief.&nbsp;</p> 
<p>Walmart published quarterly financial results on August 17, 2023. The retail store chain saw growth in revenue and net income during the quarter that ended in July 2023. It posted $161.6 Billion in revenue, an increase of over 5% in a year.&nbsp;</p> 
<p>The earnings-per-share (EPS) for the company in the quarter was $1.84, higher than last year’s $1.77. Walmart posted a net income of $7.89 Billion which was more than the previous quarter as well as the previous year’s income.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-wmt-stock-price-suffered-despite-positive-earnings-strong"><strong>WMT Stock Price Suffered Despite Positive Earnings</strong></h2> 
<p>From the quarterly earnings point of view, the biggest retailers in the United States had an upper hand over their counterparts. Target, for instance, missed the targeted financials for the quarter. TGT stock price saw a decline of over 3% on the day of earnings release which is considerable given the missing numbers.&nbsp;</p> 
<p>WMT stock price surprisingly saw a drop of more than 2% following the earnings. Analysts cited the lack of investors’ confidence in the company to pull off growth amid the turbulent economic circumstances.&nbsp;</p> 
<p>However, Walmart holds a positive outlook and raised the full-year guidance for earnings. It expects the EPS to remain between $6.36 to $6.46 per share up from the previous estimate of $6.10.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-walmart-inc-nyse-wmt-stock-price-movement-strong"><strong>Walmart Inc. (NYSE: WMT) Stock Price Movement</strong></h3> 
<p>At the time of publishing, WMT stock price closed at $158 following a slight increase of 0.6% during the last intraday trading session on Wednesday, 23rd August. The stock price was falling after attaining the record high at $162 and dropped over 4% to an immediate support price of $155.</p> 
<p>Currently, Walmart stock is trading between the price range of $162 and $155 sustaining above the 50 and 200-day moving averages. Since the drop following the earnings, WMT stock saw an upswing for the last couple of days.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/A40AXz5a5USW4GFSCDfgrJkg9L6aexGR3GQjGwJbbAFee1vUOxdXXxQwdIJCGdCG4d31ChpygfhKPiXTPn-P87u5kBrd7xoLwSBKxyMl7fOkinzDe7PR9hMcsj1zPXsu0YM-7IMxii-03APnAD8wBg" alt="Will Walmart (WMT) Stock Price Mark Record High of $162 Again?"> 
  <figcaption class="wp-element-caption">
    Source: Walmart Inc. (NYSE: WMT) Stock Price Movement on <a href="https://www.tradingview.com/x/XtHJk45n/%5C" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>If the uptrend continues, the stock needs nearly a 3% jump to attain the highest trading price again. The price point of $170 should be the target for stock if it manages to go beyond $160.&nbsp;</p> 
<p>In case of a potential trend reversal, <a href="https://www.thecoinrepublic.com/2023/07/27/walmart-wmt-stock-showed-over-5-million-volume-in-1-day/" target="_blank" rel="noopener noreferrer nofollow">WMT stock price</a> could see support at $152 after breaking the immediate support. The downturn is unlikely given the upward movement and crucial indicators suggest the growth ahead. RSI is 55 and the MACD curve sustains above the zero line.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Will Walmart (WMT) Stock Price Mark Record High of $162 Again?

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Thecoinrepublic.com

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