Walmart reported poor earnings

Walmart reported poor earnings

What happened?

Walmart, the giant retailer, fell short of analysts expectations. The earnings forecast was $1.51 per share, while the actual numbers came out $1.39. As a result, Walmart dropped by nearly 5% in pre-trade hours. Note that the stock trading is available from 16:30 MT time.

What does it mean for traders?

The good news for Forex traders is that they tradestock CFDsand can make both buy and sell trades. Since the figures came out worse than expected, Walmart will go down. Lets look at the chart. The stock price has been trading in a descending channel since November. Now it touches the upper trendline of the channel, therefore it should pull back to the downside. The move below the recent lows of $143.50 may push the stock to this month low of $139.00. Resistance levels are $147.50 and $150.00.

Walmart reported poor earnings

Besides, you can trade stocks in our app Forex Trader!

Walmart reported poor earnings

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Source: https://fbswiki.com/walmart-reported-poor-earnings-00031422
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