Walmart futures are somewhat flat ahead of the earnings tomorrow, investors are preparing for a similar outcome to Home Depot where the firm noted weaker consumer spending due to caution on spending. Nonetheless, HD’s share price fell as low as 8% but has now recovered, showing some resilience after beating its earnings. A similar scenario could be anticipated for Walmart. Currently, its stock is trading at around $68.32 a share with the medium-term trend still intact. Near-term volatility may be on the higher end of the spectrum following the earnings, but not necessarily negative. We can see there is resistance around $69.63, a break above and close here would increase the possibility of an extension towards the all-time high of $72.15. However, indicators on larger timeframes suggest the stock is a little overbought, so caution in the near term should be taken into consideration. Towards the downside, initial support is around $68.79 followed by trendline support in and around $65. Only a significant move below the trendline may raise a call to action, in terms of adjusting positioning for the medium-term. Based on the technical indicators, the outlook is mixed. The MACD is negative but showing signs of consolidation, and the RSI is just about neutral as it reads 46.