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WMT Holds $123.10 Channel Support Before Earnings, With $131.65 the Next Test

WMT Holds $123.10 Channel Support Before Earnings, With $131.65 the Next Test

TradingKey – Walmart (NASDAQ: WMT) reports fiscal third-quarter results on Thursday, November 19, before the market opens. The stock goes into the report trading near the lower edge of the rising channel that has carried it higher since September, with $123.10 support just below.

Walmart’s market value is close to $1 trillion. Over the past 52 weeks, the stock gained 14.2%, ahead of 12.3% for the S&P 500 and 10% for the consumer staples ETF, according to Barchart. It also reports in a busy week for retail, two days after Home Depot and a day after Target, so investors will be able to compare all three before the holiday season.

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