Supervalu.Inc (SVU). Technical analysis and price action following earnings report.

On Tuesday July 27, 2016 the company released a disappointing earnings report. Price opened below the descending trend line, pulled up a few points and then it came down hard.

The following two days, price consolidated and tried to regain some strength. The upper resistance trend line is still pushing price down. We should see next week what happens.

Watch this video for some technical insights.

Good trading!




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