Today’s instrument is Otis Worldwide’s stock traded in the NYSE exchange under the ticker OTIS.
When we look at the OTIS’s chart, we can see it’s been trading in a channel between $80.50 support and $84.50 resistance for the past week, except for falling from the $83 price level to $78 at the opening of 26th of January, but immediately recovering with a bounce-back at $82 and closing in the green. It was last found trading at $82.76 with the closest overhead resistance of $84.5 and the closest support level at $80.50.
Photo by Edwin Chen on Unsplash
Otis Worldwide has scheduled a quarterly earnings announcement today 31/01/2022. If earning expectations are surpassed, we could expect the price to move upwards, towards the $85 price range.
Today we can expect a move towards the $84.50 resistance or consolidation at the current level.
If however, it doesn’t manage to hold on to the current level then a move towards and below the $80.50 can be expected.
(Click on image to enlarge)
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