Constellation Brands (STZ stock): Could the price move towards the $247 range?

AAATrade Team AAATrade

Today’s instrument is Constellation Brands Inc. Class A‘s stock traded on the NYSE exchange under the ticker STZ.

When we look at the STZ ‘s chart, we can see it’s been trading in a channel for the past week between support of $227 and resistance of $235, with no notable moves to either breakout or breakdown. It was last found trading at the $231.6 range.

Constellation Brands Inc. A has scheduled a quarterly earnings announcement today 07/04/2022. If earnings expectations are surpassed, we could expect the price to move upwards, towards the $247 range.

Today we can expect a move towards and above the $235 closest resistance level, possibly in the $240 range.

If, however, it doesn’t manage to hold on to the current level then a move towards the $227 closest support level can be expected.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.