We just added to our position in Walmart (WMT) with an average price of 143.37$/share. Following the addition, the position will be at 2.47% of our portfolio. Our target for this position is 3%, although if we can get in at substantially lower prices (in the low 130s or 120s), we are willing to increase this position to 5%.

We're doing this on the back of a recent development that shares have gotten above the 200-day moving average (red) and a large volume profile area (to the right). While the major resistance still exist in the 150 (see green trendline) that WMT shares will have to deal with, we believe this move here indicates some momentum is picking up. It is likely that investors share our view, that WMT is a very good defensive strategy going into 2022, therefore they're loading up shares in the middle of 2021's trading range here.