Today’s instrument is Constellation Brands Inc. A stock traded on the NYSE exchange under the ticker STZ.
Image: Constellation Brands
If we look at the STZ chart, we can see its upward trend since the start of the week, started by a spike up to $240 then to $245 on December 28, and followed by a slow and steady climb the rest of the week reaching as high as $251. It was last found trading at $250.94 with overhead resistance the $252 and closest support at $246.
Today we might expect a move past the $252 resistance level, as it managed to consolidate and hold on to its gains during the past week after its steady climb.
If however, it fails to break the $252 resistance then a case can be made for moving near the first support level of $246
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