Walmart stock crosses $123 as “golden cross” momentum hits a new high

Walmart stock jumped Monday and pushed to a fresh record, extending a steady rally that has turned the retailer into one of the market’s more resilient large-cap winners. The move matters because it’s arriving ahead of the company’s next earnings report, when investors will get a clearer read on consumer demand, margins, and the pace of growth in e-commerce and advertising.

By mid-afternoon, shares had climbed sharply after an early dip, a reversal that traders often view as a sign of strong demand beneath the surface.

Walmart stock today: price snapshot

As of 2:36 p.m. ET on Monday, Feb. 2, 2026, shares were trading at $123.68, up $4.54 (+3.81%) on the day.

The headline is the “cross” in the simplest sense: the stock has crossed above the $120 area and kept going, turning what had been a psychological ceiling into a level traders are now watching for support.

What “cross” means on the chart

Many chart-watchers have been leaning on the “golden cross” narrative around Walmart stock. In technical analysis, a golden cross generally refers to a shorter-term moving average (often the 50-day) moving above a longer-term moving average (often the 200-day). The idea is straightforward: the shorter trend overtakes the longer trend, suggesting improving momentum.

That signal doesn’t predict earnings or consumer spending on its own, but it can influence flows. Some momentum funds and systematic strategies tilt more bullish when trend indicators line up, especially in a market that’s been quick to punish weaker names.

There’s a flip side, too. If price falls back below key moving averages after a run like this, the same technical crowd that chased the breakout can turn cautious quickly. That’s why traders talk about a “cross” as both a green light and a line in the sand.

Why investors are leaning into Walmart now

Three themes have helped Walmart’s bid stay firm into early 2026:

Defensive demand in an uneven economy. When households feel pressure, shoppers often consolidate trips and lean toward value, which can benefit large discount retailers. Even when conditions are fine, investors still tend to pay up for consistency.

Digital scale that’s starting to look like a flywheel. Beyond stores, Walmart’s growth narrative increasingly includes marketplace expansion, delivery economics, and higher-margin revenue streams such as advertising. Those areas can help offset cost pressures and give the company multiple levers to pull, even if one part of the business slows.

Credibility with cash flow and discipline. In a market that still rewards stability, Walmart’s size and operational muscle can draw incremental demand during periods of volatility elsewhere.

Monday’s action fits that profile: early weakness found buyers, and the stock ripped higher into the afternoon.

The next catalyst is Feb. 19 earnings

The next major test arrives Thursday, Feb. 19, 2026, when Walmart is scheduled to release FY2026 Q4 results and host a conference call.

The timing, converted to Eastern Time:

• Earnings materials: expected around 7:00 a.m. ET

• Conference call: expected around 8:00 a.m. ET

With the stock at record territory, the bar often rises. Investors will be listening for any change in tone around:

• discretionary vs. essentials spending,

• inventory and shrink trends,

• wage and logistics costs,

• progress in online profitability and delivery economics.

In other words, the rally has momentum, but the next step depends on whether guidance and commentary validate the premium.

What could trip up the run from here

Even strong, defensive names can wobble if a few things go the wrong way:

Guidance sensitivity. If outlook language implies slower traffic, weaker discretionary categories, or margin pressure, the market can reprice quickly—especially after a fast run to new highs.

Cost surprises. Freight, labor, and promotional intensity are recurring swing factors in retail. A small move in any of them can change the margin story.

Rotation risk. If investors rotate hard into higher-beta growth or cyclicals, defensive winners sometimes lag even if their fundamentals stay intact.

Walmart stock has the wind at its back right now, helped by a clean “cross above $120” moment and trend-friendly chart signals. The question for the next few weeks is whether fundamentals give the rally enough fuel to hold those gains after earnings-day volatility.

Sources consulted: Walmart corporate events calendar; Nasdaq; Yahoo Finance; Investing.com