Technical Analysis Of Tesco Plc

By AAATrade of aaatrade.com

Friday, June 16, 2023 5:15 AM EST

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Today’s instrument is Tesco Plc.‘s stock traded in the LSE exchange under the ticker TSCO.

Looking at the TSCO‘s chart, we can see that the stock has been in an uptrend from the start of the year till May, whence the downtrend started, reaching the current price of around 262 GBX.

Today it is announcing its quarterly earnings, and if the market’s anticipation is negative, then we could expect its price to continue the downtrend, reaching its support level at around 250 GBX. If it can hold it above that level, then it should react upwardly toward the resistance level at around 270 GBX.

(Click on image to enlarge)

AAATrade's Intraday Technical Analysis of Tesco Plc - 16/06/2023

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