Diageo : bounces on positive forecast

Chart showing uptrend
The liquor maker jumps this morning after saying that "US business is performing strongly and ahead of expectations." The company added that it continues "to expect sequential improvement in organic net sales and operating profit compared to the second half of fiscal 20."

From a chartist point of view, the stock opened with a bullish gap and trades above its 50-day moving average while the RSI is now in bullish territory. As long as 2449 is not broken (September 25th low) is not broken, a continuation of the rebound would be expected towards 2900 at first.

Source : TradingVIEW, Gain Capital

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