Today’s instrument is Darden Restaurants Inc.‘s stock traded in the NYSE exchange under the ticker DRI.
When we look at the DRI ‘s chart, we see its slow climb from the $125 range to $131, reaching as high as $138 even temporarily and the retraction and consolidation at the $133 where it held strong for the past few days. It was last found trading at $130.14, having the closest support level at $128 and overhead resistance levels at $135 and $138 respectively.
Darden Restaurants Inc. has scheduled a quarterly earnings announcement today 24/03/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards $140.
Today we can expect a move towards and above the $135 level, breaking the week’s long resistance with the aid of favorable news.
If however, it doesn’t manage to hold on to the current level then a move below the $128 support level can be expected.
(Click on image to enlarge)
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