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The death of the retail stock has been greatly exaggerated. As of this morning, there's at least one major brick-and-mortar retailer that's thriving in 2017: Walmart Stores Inc. (WMT) - Get Walmart Inc. Report .

Walmart is surging more than 8.75% as of this writing, rallying on the heels of a stellar third-quarter earnings call. Brick-and-mortar and online sales are turning higher. 

The firm earned an adjusted $1 per share, besting the 97.5-cent quarterly profit Wall Street was hoping for. But the real wins came in the growth numbers: Domestically, Walmart achieved its highest growth rates since before 2008 during the latest quarter. And it grew gross merchandise volume in its key e-commerce business by a staggering 54%, signaling that it's ready and willing to take on the likes of Inc. (AMZN) - Get, Inc. Report .

Buyers are sending a major message this afternoon, as upside volume floods into WMT, pushing it to one of the biggest single-day earnings reactions in recent memory.

Sure enough, we're seeing an acceleration move in what's already been a very bullish uptrend in Walmart's chart.

Don't let Thursday's pop in shares scare you off, though -- there's still time to buy here. To figure out how to trade it now, we're turning to the chart for a technical look:

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Walmart's uptrend is hard to miss, even if deciphering stock charts isn't your forte. Instead, the price action in Walmart year-to-date is about as simple as it gets: Shares have been bouncing higher in a very well-defined uptrending channel, a price range that corralled 99% of this stock's movement this year.

Along the way, every test of trendline support down at the bottom of that price channel has provided a low-risk, high-reward opportunity to be a buyer before shares charged higher again.

Heading into earnings, there were two ways Walmart's reaction could play out: Either the uptrend accelerated with Q3 numbers, or it corrected to the next buying opportunity at trendline support. Turns out, it was the former.

The big breakout we're seeing in shares of Walmart Thursday is actually a buying opportunity. That's because we're getting a very clear signal that buyers are still very much in control of the price action in this retail behemoth. WMT is up more than 20% in the last three months, and as this stock's uptrend trajectory accelerates here, a strong finish to 2017 could be in the cards.

If you don't already own Walmart, now's the time to make a bet on this retail standout.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.