Walmart shares rebound on Tuesday, company announces partnership with Postmates aimed at on-line grocery delivery expansion

Yesterday Walmart Inc announced a partnership with delivery service Postmates Inc in Charlotte, North Carolina. The deal comes as the retail chain seeks to expand the reach of its grocery home delivery service to 100 metro areas.

Walmart shares closed higher for the fourth time in the past six trading sessions on Tuesday. The stock edged up 0.20% ($0.17) to $86.45, after touching an intraday low at $85.66, or a price level not seen since April 4th ($85.44).

In the week ended on April 8th the shares of the retail chain lost 2.56% of their market value compared to a week ago, which marked the fifth drop out of seven weeks.

The stock has pared its loss to 2.83% 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.

In March, the retailer said the on-line delivery service was planned to be rolled out to over 40% of households in the United States by the end of this year, so that it was able to become more competitive against Amazon.com Inc.

Walmart had also said its on-line grocery delivery service would cost $9.95, while the minimum order would be $30. At first, deliveries will be carried out by companies such as Uber Technologies Inc, with more delivery providers being expected to be added by the end of 2018.

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 24.93% surge compared to the closing price of $86.45 on April 10th.

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 – $86.58
R2 – $86.71
R3 (Range Resistance – Sell) – $86.85
R4 (Long Breakout) – $87.24
R5 (Breakout Target 1) – $87.70
R6 (Breakout Target 2) – $87.90

S1 – $86.32
S2 – $86.19
S3 (Range Support – Buy) – $86.05
S4 (Short Breakout) – $85.66
S5 (Breakout Target 1) – $85.20
S6 (Breakout Target 2) – $85.00

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

Central Pivot Point – $86.62
R1 – $88.41
R2 – $90.12
R3 – $91.91
R4 – $93.69

S1 – $84.91
S2 – $83.12
S3 – $81.41
S4 – $79.69