Walmart - Walmart's stock looking rather positive on the weekly. The retailer has announced that it will develop 12 new stores in 2024

Taking a look at Walmart as the giant retailer announced a 3-1 stock split earlier in the week and it has revealed plans to develop/covert 150 stores within the upcoming 5 years. Including 12 in 2024. Currently, its shares are trading at around $168.75 a share, looking at the weekly chart we can see that the price continues in a fairly correlated pattern. We can see that the channel is a guiding investors, offering support below with room to gradually edge higher. After some profit-taking in November, the stock managed to stabilise in December and begin the year on a positive note, rising 7% since the start of January. The key support sits along the lower trendline of the channel and reads $155.64, with resistance along the trendline reading  $174.53. A move below $155.64 could then see the price fall as low as $149.54 for a re-test of the December support. On the other hand, a move above $174.53 would then pave the path for a push towards $180. Looking at the technical indicators, they are looking quite positive. The MACD has just turned positive once again and the RSI continues to rise as it reads 64.