The devastating October sell-off has left even the most seasoned investors somewhat concerned. But despite the market volatility, Walmart (NYSE:WMT) stock managed to buck the trend and the positive momentum has pushed the WMT stock price over the psychologically significant $100 level.

As analysts wonder whether a bear market is around the corner, I suggest that long-term investors consider adding WMT stock into their retail portfolio.

Here’s why.

When major indices come under stress, more than ever, I look for companies that offer fundamental value and growth potential, as well as proven stability. Overall, Walmart stock fits the criteria well.

Over the past decade, despite its rock-solid financials, Walmart has been overshadowed by the growth of Amazon (NASDAQ:AMZN). At times the WMT stock price has been punished as the company has not been able to compete with Amazon’s offerings and innovation.

Yet, recently WMT management has been more proactive in focusing on digital profitability, while keeping its brick-and-mortar business growing. Since Walmart’s “analyst day” on Oct. 12 when the company shared the steps it is taking to increase the top and the bottom line, Wall Street has been developing a more bullish tone for the future of Walmart stock.

The Healthy Dividend Yield of Walmart Stock

Income investors know that they can compound their returns through reinvesting dividends from high-yielding shares. Walmart, a high-dividend staple, has consistently paid dividends for over four decades. WMT’s current dividend yield is over 2% — another important reason why I believe WMT shares belong to a capital-growth portfolio. The company also has a history of increasing its dividends regularly: in February 2018, Walmart’s management announced a 2% increase for the 2019 dividend. On Sept. 4, Walmart paid a quarterly common stock dividend of 52 cents per share to shareholders of record on Aug. 10. The next dividend payment is expected in December 2018.

Should WMT Stock Investors Still Worry?

Over the past year, the political discourse on trade wars with China has dominated business life and affected the stock price of many companies in the U.S. as well as in China. And Walmart stock has found itself right in the middle of these tariffs. About 10% of Walmart’s global sales are related to its business in China. Although a potential escalation of the war of words and yet more tariffs could further affect Walmart’s earnings negatively, it is likely that by early 2019 we will have a trade deal that will calm the nerves of businesses and investors. I believe that any tariff related bad news is already baked into the Walmart stock price.

The Bottom Line on Walmart stock

Year-to-date, WMT stock is up about 2% and the stock price has increased almost 15% over the past 12 months. Walmart’s technical chart shows that the stock has been forming a base between $85-$90. For those investors who pay attention to short-term moving averages, the chart message is a “buy;” whereas, oscillators are “overbought,” signaling potential profit-taking in the shorter term.

November may bring further volatility to the stock market, and I would not advocate bottom picking; however, I find WMT stock to be a compelling buy candidate between $90 to $100. Toward the end of the year, the stock price can easily retest $110. In 2019, patient value and dividend growth investors are likely to be rewarded handsomely.

As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities.