Walmart shares fall the most in six weeks on Monday, retailer sets up first small-sized high-tech store in China

According to a statement by Walmart Inc (WMT) on Monday, the company has established its first small-sized high-tech store on Chinese soil, while most of the items stocked there will also be available for purchase on Walmarts store on web-based marketplace JD.com.

Walmart shares closed lower for the fourth time in the past nine trading sessions on Monday. It has also been the steepest daily loss since February 20th. The stock went down 3.84% ($3.42) to $85.55, after touching an intraday low at $84.84, or a price level not seen since October 11th 2017 ($84.10).

In the week ended on April 1st the shares of the retail chain added 4.16% to their market value compared to a week ago, which marked the second gain out of six weeks.

The stock has dropped 3.84% so far during the current month, following a 1.16% decrease in March. The latter has been a second straight month of losses.

For the entire past year, the shares of the NYSE-listed retailer went up 42.87% following another 12.76% surge in 2016.

At the new store located in the city of Shenzhen, clients will be allowed to use a mini program on Tencent Holding Ltd’s WeChat in order to pay through a mobile device, thus, bypassing checkout counters.

The supermarket is to be stocked with over 8 000 items, with 90% of them also being available for purchase on-line, Walmart said.

Clients within a two-kilometer radius will have their purchased items delivered to them as fast as 29 minutes, the retailer also said.

According to CNN Money, the 30 analysts, offering 12-month forecasts regarding Walmart Inc’s stock price, have a median target of $108.00, with a high estimate of $126.00 and a low estimate of $72.00. The median estimate is a 26.24% surge compared to the closing price of $85.55 on April 2nd.

The same media also reported that 16 out of 33 surveyed investment analysts had rated Walmart Inc’s stock as “Hold”, while 15 – as “Buy”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Walmart stock are presented as follows:

R1 – $85.86
R2 – $86.17
R3 (Range Resistance – Sell) – $86.49
R4 (Long Breakout) – $87.42
R5 (Breakout Target 1) – $88.51
R6 (Breakout Target 2) – $88.98

S1 – $85.24
S2 – $84.93
S3 (Range Support – Buy) – $84.62
S4 (Short Breakout) – $83.68
S5 (Breakout Target 1) – $82.59
S6 (Breakout Target 2) – $82.12

By using the traditional method of calculation, the weekly levels of importance for Walmart Inc (WMT) are presented as follows:

Central Pivot Point – $87.93
R1 – $90.38
R2 – $91.79
R3 – $94.24
R4 – $96.69

S1 – $86.52
S2 – $84.07
S3 – $82.66
S4 – $81.25