The $100 level acted as support earlier in August. But since February, $100 has been a pretty strong resistance level. Now that WMT stock is below it once more, it is a worrying sign. Shares of Walmart rarely go on sale unless the market perceives a macro shock.

Walmart posted strong Q2 results with 4.6% comparable sales growth, boosted by groceries, ecommerce, and higher-income shoppers. It raised annual outlook despite tariff pressures, aided by ad revenue and price rollbacks.