Today’s instrument is Lamb Weston Holdings Inc.‘s stock traded on the NYSE exchange under the ticker LW. 

When we look at the LW‘s chart, we see the spike up from the opening of the 31st of March session, moving from $57.5 to the high of $61 and its return in the $59 range. Since then, it managed to slowly climb from the $59 to the $60.50 range with strong consolidation along the way, reaching also as high as $61.50 which now acts as the closest temporary overhead resistance. It was last found trading at the $60.30 range, having the closest temporary support levels at $59 and $57.50 respectively.

Lamb Weston Holdings Inc. has scheduled a quarterly earnings announcement today 06/04/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards $66.

Today we can expect a move towards an above $61.50 closest resistance level, possibly in the $64 range. 

If, however, it doesn’t manage to hold on to the current level a move towards the $57.5 closest support level can be expected.

(Click on image to enlarge)