Today’s instrument is Constellation Brands Inc. Class A‘s stock traded on the NYSE exchange under the ticker STZ. 

When we look at the STZ ‘s chart, we can see it’s been trading in a channel for the past week between support of $227 and resistance of $235, with no notable moves to either breakout or breakdown. It was last found trading at the $231.6 range.

Constellation Brands Inc. A has scheduled a quarterly earnings announcement today 07/04/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards the $247 range.

Today we can expect a move towards and above the $235 closest resistance level, possibly in the $240 range. 

If, however, it doesn’t manage to hold on to the current level then a move towards the $227 closest support level can be expected.

(Click on image to enlarge)