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\n \n The price movements since summer have also contributed to the formation of the handle in what appears to be a substantial weekly cup-and-handle pattern. Collectively, this formation suggests a measured move target nearing $130, adding another layer to the stock’s bullish outlook. In total, WMT now boasts four active bullish patterns. Coupled with the recent partnership news from OpenAI, the technical and fundamental factors are aligning, indicating that further upside momentum could be on the horizon.\n <\/p>\n \n To put it simply, the current setup remains bullish and supports the recent breakout. When we zoom out to examine the last decade, we notice that this same pattern is also visible on the monthly log chart. Despite occurring after a robust move in recent years, the setup closely resembles other multi-year bullish pattern breakouts that occurred in 2017, 2019, and 2023. Each of these breakouts experienced strong follow-through while maintaining the broader uptrend established since the stock’s bottom in late 2015.\n <\/p>\n \n In summary, there are clearly bullish technical patterns observable across daily, weekly, and monthly time frames, all unfolding within a long-term uptrend. This represents one of the most constructive technical setups we could hope for at this stage. The next step is straightforward: the stock must follow through and begin achieving those upside targets.\n <\/p>\n \n The primary risk lies in failing to capitalize on these bullish formations. After struggling to fully break out this past summer, another stall at this juncture would raise concerns. With numerous other stocks reaching new highs and exhibiting strong momentum, capital could easily shift elsewhere, potentially testing the patience of current WMT investors.\n <\/p>\n
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\n Walmart (WMT) experienced a significant surge on Tuesday, climbing 5% following the announcement of its partnership with OpenAI. Earlier this summer, we analyzed the stock from a charting perspective, focusing on two developing bullish patterns (indicated in green and blue). Although these setups did not gain traction, it is crucial to note that their risk levels remained intact, preserving the overall structure.
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\n This stability paved the way for a new bullish pattern that began forming in early August. Following Tuesday’s impressive surge, this pattern has now decisively broken out. Currently, WMT is exhibiting three active bullish patterns on the daily chart, with upside targets positioned at approximately $106, $113, and $120, respectively. Such a technical setup is rare but can emerge in strong, stable stocks like WMT that do not exhibit heavy volatility.\n <\/p>\n