Walmart $WMT is in a bullish breakout after consolidating in an ascending triangle over the past few months. Walmart Inc. (WMT) - I Like the Ascending Triangle vs. Key Resistance Growth Assessment: As one of the only retailer with enough scale to battle Amazon, Walmart is also broadening its scope. Not only is it a cost leader, it is entering new markets. For example Jet.com initially also wanted to be a cost leader. But in the past couple of years, after Walmart's acquisition Jet.com pivoted into more high-end, niche segments. Walmart has been trying to enter these new markets in a hands off approach at least in terms of marketing and branding, which is the right thing to do. (You can't associate high-end with Walmart). Overall I am impressed with Walmart's execution into new segments and have confidence of more upside above $110, where its market cap would be around $320 B (compared to Amazon's current market cap around $888 B). Technical Analysis: As price continued to coil with bullish signs all around, we noted a strong likelihood of a bullish breakout towards first the $106 resistance and then the high from early 2018 just under $110. WMT Daily Chart (click to enlarge) New Levels:- It should be noted that the breakout is also from a larger consolidation triangle that started in 2018.- This suggests that there is potentially more upside above that 2018 high just under $110.- Furthermore, I think the 104 area will now be support after being resistance for a few months. In fact, if price does bounce off of $104 as support, it would be more confirmation that bulls are in charge.