Today’s instrument is Levi Strauss, an apparel company, traded in NYSE exchange under the ticker LEVI.
Looking at the LEVI’s chart, we can see that the stock has been in a downtrend whereas it was lastly traded at around $13.25.
Last week, although it announced better-than-expected quarterly earnings, it trimmed the 2023 profit forecast, which led to the further decrease of the share price. Today, if it holds above the support level of $13, then we could see an upward correction towards the price of $14.
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