Yum! Brands technical notes ahead of earnings news
The stock has been marking time near the $90 area ahead of earnings news. If the news is strongly positive, a breakout above $90 would be highly likely. First resistance would be the 52-week high at $91.99 and then the life high area at $96. A move above $96 would open up the possibility of a run to the $100 area over time. If the news is a negative disappointment, the stock is likely to drop to recent range lows at the $87 area. A breakdown below $87 would resolve the current trading range bearishly. Next support levels to watch as potential downside objectives would be at $85.76, $84.03, $81.92, and $80.23. A breakdown below $85 would break the longer-term uptrend support line.