If we look at the TSCO 4H chart, we can see it’s been trading in an uptrend for the past months, but after forming its all-time high of 264 a month-long selloff took place dragging the price down to the newly formed support at 246 price range, where displayed signs of reversal, after bouncing strongly back up in the 253 range. Currently is traded at 262 close to the resistance level, gearing up for a breakout.

Tesco Plc. has scheduled a third-quarter earnings announcement today 06/10/2021. If the earning expectations are surpassed, today we could expect the price to move upwards, towards the 270-price level.

If however, it fails to hold above the current price range of 264 then a case can be made for falling towards the 254 support level.