We looked at shares of Walmart (WMT) earlier in January when it was starting to break below a channel support and trying to extend a bearish correction.As we wind down the month, we can see that the bearish extension did indeed extend lower. But where should we anticipate support from a technical analysis perspective?Walmart Daily Chart 1/31(click to enlarge)ABC Scenario; Fibonacci Levels:- The daily chart shows that the market is likely in an ABC correction.- In this scenario, the A and C wave should be similar or have fibonacci relationships.- In a A=C scenario, price should find support just above 64.00.- If we anticipate C to be a 168% fibonacci extension of A, we should look for support around the psychological level of 60.00.- We should also consider the 62.30-62.75 support pivot area.- Finally, consider the 61.8% retracement of the 2016 rally. This key support level would be around 63.40.- It does not seem any of these key fibonacci levels overlap, which would make a stronger case for that level to provide support.- Instead, we should look at the 62-63 area as the central point of all these fibonacci levels. This is where I would anticipate support at. I would also limit the current bearish outlook to this area.