Walmart, Inc (NYSE:WMT) gapped up over 4.75% off Monday’s close and regained the 200-day simple moving average (SMA) after printing second-quarter 2023 financial results.

For the quarter, Walmart reported adjusted EPS of $1.77 on revenues of $152.86 billion, which beat the consensus estimate of $1.62 and revenues of $150.75 billion.

The multinational retail corporation posted strong growth despite soaring inflation, a series of interest rate hikes and fears of a looming recession. Walmart U.S. net sales rose 7.1% year-over-year, while sales from the international segment increased 5.7%.

Walmart guided its full-year 2023 profits lower, however, forecasting adjusted EPS to decline between 9% and 11%.

The move higher on Tuesday saw Walmart working to erase a massive decline the company suffered after printing first-quarter earnings on May 17, where the stock plunged 20% between that date and May 20.

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The Walmart Chart: Walmart began trading in its current uptrend on July 26, when the stock bounced up off the $120.06 level. The company’s most recent higher low within the uptrend was printed on Aug. 5 and $125.12 and the most recent confirmed higher high was formed at the $134.23 mark on Aug. 1.

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Photo: Created with an image from Mike Mozart on flickr