If we look at the Campbell Soup Company (NYSE:CPB) weekly chart, we can see the gradual price fall since the start of the week, from $42 down to $41.5 and further down to $40.50 after a lousy trading session on the Nov. 18.
Since then, it held that $40.50 low as support the following days even after the temporary fall to $40, it managed to bounce up and close in positive. Its last traded price was $41.07, having the support of $40.50 and overhead resistance of $41.50.
Today we could expect a move upwards near the resistance of $41.50, possibly further towards $42, as it showed the ability to hold on above the support. If, however, it doesn’t manage to hold above the current price range, then it could move towards the support of $40.50.
