WMT – Walmart Inc.
WMT – Walmart Inc.
Date: 20 May 2026
Sector: Retail Trade / Speciality Stores
Exchange: NASDAQ
TradingView link: https://www.tradingview.com/x/hIXpqM49/
I guess the best way to describe Walmart is as the Tesco of the US. I shopped there quite regularly while I was in America, and for a short time, they also owned Asda here in the UK.
Now onto the technicals.
The stock initially traded at just over one cent in April 1972, around $0.0159. Today, the share price sits around $134.38. As I’m writing this, shortly before the market close, the stock is at an all-time high and looks poised to close there, too.
I have marked out three other pink boxes in Walmart’s history where we saw price action move sideways for extended periods before accelerating to the upside. If we continue to see a broader market rotation into defensive stocks, then companies such as Walmart are exactly the type of businesses you would expect to push out toward fresh all-time highs.
For the purposes of this analysis, though, I’ll focus primarily on the execution around the most recent pink box.
One thing I’ve noticed recently is that several defensive names are creeping toward all-time highs. Examples include:
Walmart
Costco
Coca-Cola
Philip Morris
That is interesting because these are businesses where consumers continue spending regardless of the broader economy. It potentially suggests a slight market rotation into defensives.
Whether that rotation fully develops or not remains to be seen, but it is still an interesting data point worth paying attention to.
Even if technology stocks continue to rally, having exposure to some of these defensive names can also provide useful balance across the portfolio and broaden the range of trade opportunities.
I actually attempted to enter Walmart earlier this year, around December 2025, when the stock appeared to be breaking out toward all-time highs. Unfortunately, that breakout failed fairly quickly, and the price dropped back into the range, prolonging the consolidation phase.
The breakout I had been expecting arrived in late January 2026, somewhat later than anticipated, and the price subsequently moved up toward ~$134.43.
However, after reaching that level, the price once again entered a consolidation, forming the latest pink box that I’ve marked on the chart.
Looking at the weekly timeframe, I still believe the primary trend remains firmly to the upside. Nothing moves in a straight line forever, and what we appear to be seeing now is simply another period of congestion before a potential continuation move higher.
Ideally, I would like to see this consolidation resolve to the upside and for the price to continue breaking toward fresh all-time highs.
Drilling down to the 4H timeframe, we can see that the price is currently sitting right at the very top of the pink box, but it has not yet properly broken out.
The key level is the all-time high around ~$134.45.
Entry trigger:
Break and retest of $134.45 as support
OR three strong closes above the pink box before entry on the fourth candle
OR next blue candle continuation
Initial stop loss:
Based on the next 4H pullback structure / prior support level
Multi-timeframe correlation
3M: Blue candle
1M: Blue candle
1W: Blue candle
1D: Blue candle
4H: Blue candle
When do I tighten the stop loss?:
Last 4H swing low
Potential target range (daily):
$140
Activated price targets:
Am I in this trade: No
Current return (R multiple):
0R