Walmart (WMT) is reportedly teaming up with Microsoft (MSFT) for a bid for the popular China app TikTok. Shares of WMT have surged to the upside today so let's look at two Point and Figure charts for new price targets for WMT.
In this first Point and Figure chart of WMT, below, we used daily price data. Here the software is projecting a $155 price target.
In this second Point and Figure chart of WMT, below, we used weekly close only price data. Here this chart shows a possible $173 price target.
Bottom line strategy: Go long WMT or add to longs. Risk a close below $126 while looking for gains to $155 and then $173.
We're in a chop-fest, and not only are stocks stuck in either/or mode, so are the indicators.
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