Today’s instrument is the Campbell Soup Co. stock traded in the NYSE exchange under the ticker CPB.
If we look at the CPB chart, we can see the gradual price rise since the start of the week, from the $40.50 range up to $41 and topping around the $42, unable however to close at its high, it fell to the $41.25. Today in the premarket session, it can be found trading at $41.18, with the closest support at $41 and overhead resistance the $42.
Campbell Soup Co. has scheduled a third-quarter earnings announcement today 08/12/2021. If earning expectations are surpassed, we could expect the price to move upwards, towards the $45 price range.
Today we could expect a move upwards near the resistance of $42 as the short term positive momentum may be at play
If however, it doesn’t manage to hold above the current price range then a case can be made for moving towards the support of $41 and lower.
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