Wallmart
$WMT Uptrend channelWal-Mart Stores Inc $WMT shares are gapping higher, lifting up and is moving towards of the uptrend channel.
Wallmart LT-ViewThis is the longtime view on Wallmart (thanks to 24elliotwaves.com)... Really nice setup on the daily now
Wallmart Full of PotentialAmazon is no sleeping giant, Amazon took up 44 percent of all U.S. online retail sales in 2017 — and 4 percent of America's total retail sales — according to data released by One Click Retail last month. Although Amazon looks like it will take over the world, the Idea that there will be no competition is not realistic. Walmart is a very consistent company with returns on the majority of its promises. Walmart has faced lots of competition since its founding in 1962 and will outperform amazon 5 years from now.
I believe this will be because of an increase of online sales for wall mart faster than amazon. Walmart also has major development in china and is able to profit off of China's growing middle class. Investors also forget to realize that online e-commerce is only 20% of global sales. The remaining 80% is done by traditional brick and mortar stores.
From a Technical standpoint Walmart looks due for a price correction. Walmart is down 34% since its highs on January 30th. With the high speculation on amazon I believe Walmart will continue to correct until it hits a lower Fibonacci level. With high levels of support from 70-80$ I doubt Wall mart will go below these levels. I expect a wedge to form or Walmart to bounce off the Fibonacci level around 75$. I expect Wallmar6t to outperform amazon by 2025 and have a bigger steak in Asian countries and Online retail.
