Shares of Walmart (WMT) have been in a mode of consolidation since August 2016, when price made a high on the year around 75.00. It has since come down to almost 67 before flattening as we can see in the daily chart.Walmart Daily Chart 1/4(click to enlarge)Rising Trendline Broken:- We can see that price started the year clearing a rising trendline that extended back to Nov. 2015.- This does signal a bearish outlook, but we should also note the flat support at 68.00. - I think clearing below 68 strengthens the bearish breakout signal. Bearish Correction Continuation:- The break below 68 would signal a continuation of the current mode of bearish correction.- Note that price has crossed below the 200-, 100-, and 50-day simple moving averages (SMAs). Note the failed attempt to climb back above them before falling back under. This suggests bears are in control.- Also note that the RSI tagged 30 and remained mostly under 60. Now it is falling back below 40. This reflects maintenance of the prevailing bearish momentum. We could indeed be seeing an extended bearish correction or consolidation. In the bearish scenario, we should limit the most aggressive outlook to 63, where price will meet common support just above 62.