WALMART Q4 PROFIT TOPS EXPECTATIONS, STOCK ABOVE ALL MAs
Walmart is currently trading at 103.71-higher by 3.72% as compared to the previous closing price.
The company on Tuesday reported fiscal fourth-quarter earnings and revenue that topped market expectations, as its e-commerce sales jumped 43% due to more shoppers using its online grocery delivery service and spending more per trip. Walmart said it’s maintaining its sales outlook for 2019, as it raised its annual dividend by 2% to $2.12 per share, up from $2.08 a share.
The company generated adjusted EPS of $1.41 for the fourth quarter. The EPS was above the consensus estimates of $1.33. Walmart brought in 138.79 billion in revenue for the quarter, above the market expectation of $138.65 billion.
On the technical front, the current price is above the MA5. The current price is above the upper band of the Bollinger Bands and is heading upwards. The RSI is currently at 74.08% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 103.50 TAKE PROFIT AT 104.50 STOP LOSS AT 103.00