Darden Restaurants rises alongside downward correctional trend line - Analysis - 24-06-2022

Darden Restaurants' stock (DRI) rose in the intraday levels amid positive signals from the RSI after reaching oversold levels, while venting off oversold saturation and recouping past losses, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA, marking a profit of 0.42%, or 48 cents, and settling at 115.60, with trading volumes surpassing 3 million shares, above 10-day averages of 1.6 million shares. 

The company reported a profit of $2.24 per share, surpassing estimates of $2.21, on sales of $2.6 billion, above estimates of $2.54 billion. 

Therefore we expect the stock to return lower, targeting the support of 105.70, provided the resistance of 125.96 holds on.

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Expected trend for today: Bearish