Could Darden Restaurants (DRI Stock) bounce to the 127 level?

AAATrade Team AAATrade

Today’s instrument is the Darden Restaurants stock traded in NYSE exchange under the ticker DRI.

Looking at the DRI’s chart, we can see that although it is in a downward trend, recently it bounced back at the current price of around $122.55 which was assisted by the better-than-expected quarterly earnings announced on the 23 rd of June.

Today, we could expect it to test its resistance level at around $127 and if not able to break it through, then to fall towards its support level which is located at around $114-115.

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.

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