Darden Restaurants: An Expected Move Towards And Above The $135 Level

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)

Darden Restaurants Inc.

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