After the 2016-2017 bull run capped off at $110 in January 2018, the share price of Walmart $WMT has been in a bearish correction mode all the way down to $82 by the start of May. But since then, we are seeing some resilience.WMT Daily Chart(click to enlarge)Key Support and Resistance- First of all, price has fallen below the 200-day simple moving average (SMA), and the RSI has come down to tag 30. These were signs that the bullish trend was over. - But even if the bullish trend is over, it does not mean there has to be a bearish trend. - The hold at $82 was key. This was a previous resistance before the surge in September 2017. - Treating this resistance as support shows resilience and suggests WMT has some upside at least in the short-term.- However, as price approaches $87-$88, there will be a resistance.- The RSI is right where it should turn down if the market still has some bearish momentum.- On the other hand, if we see the RSI pop up above 60, it would validate our assessment of the market as being NON-bearish, and probably sideways.- In the sideways scenario, we can anticipate upside towards the $95 and even $100 levels, but we should probably limit the bullish expectation to these levels.- If price turns down and slides below $84, we should look for it to challenge the $81.60 area with a strong likelihood of breaking lower.- In this bearish scenario, we should anticipate support around $75, which would challenge a rising trendline, and would be in the middle of a previous support/resistance pivot area.