Walmart reported strong earnings. Should you buy it now?

Walmart, the giant retail shop in the USA, has published better-than-expected earnings results for the first quarter of 2021. Earnings per share came out $1.69, while the forecast was $1.21, revenue surpassed expectations as well: $138.3 billion vs the anticipated $132.21 billion. Besides, the company revealed strong grocery sales and e-commerce growth and upgraded its outlook for the year. Seems everything perfect! Walmart's Chief Financial Officer claimed that the company is experiencing “pent-up demand” and forecasts it to continue.

Walmart is likely to surge above the $140 resistance due to the encouraging earnings data. This breakout will drive the stock price further up to the high of May 3 at $143.00. Support levels are at the low of May 13 at $135.80 and the low of March 24 at $133.00.

Don't know how to trade stocks? Here are some simple steps.

First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
Open an account in FBS Trader or the MT5 account in your personal area.
Start trading!

walmart

stocks market

FBS Analyst Team

More by this author

Similar

31.10.2022 12:31 Fresh China's Losses ahead of a Busy Trading Week

A new week will be interesting as we await Central Banks Meetings, more earnings reports, and NFP. Let's review the main headlines for this Monday as we prepare for volatile days ahead!

14.10.2022 12:20 The Worst Day for Bears Ever

Bloomberg says yesterday’s movement was so far the wildest. It was the first time in history for the US500 to crash by 2% and close the day 2.8% above the neutral line. There’re several possible reasons for the move.

11.02.2022 17:11 What will move the market on February 14-18?

Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!