Technical Earnings Preview: Textron near highs before news
The stock is in a strong uptrend on almost all time frames and trading near 52-week highs. If the new is a positive surprise, the first resistance level of note is the 52-week high at $69.36. On a breakout above the high, next resistance levels to watch as potential upside objectives would be at $70.14. $71.30, and $74.40. If the news is a negative surprise, there is one major technical feature to be aware of. The price action since April has resulted in an "Island" of price, which is caused by a large gap. Part of that gap was later filled, but not entirely. Initial support on a decline would be at $64.57, and then at $62.57 and the $60 area. A significant gap-down in reaction to news that does not get filled would create an "Island Top", which would be technically very bearish for future price.