April 28 Chart of the Day - Darden
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Darden (DRI) has been on a steady upward journey since our last look back in September 2023 when shares hovered around $145. Fast forward to today, and the market seems captivated by its climb above the $200 mark.
While analysts scramble to justify this impressive level through various metrics and projections, we believe the pure price action on the chart tells the most compelling story of all—a visual narrative of sustained momentum and a signal of confidence that speaks for itself.
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Let’s take a price action technical analysis look the chart to see where price could be heading next.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 500+ Charts of the Day and provide FREE Price Action Trading education to traders who join our highly rated Trade Room.
Monthly Chart
On the monthly chart, we can see where price reached its all time high of $211 before pulling back sharply to the $190 area twice back testing and bouncing off a trend line it previously broke out from.
That retreat had both investors and traders closely watching key support levels, which have held for now, as price seemingly has a decision to make regarding its next move.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
On the weekly chart, we see price recently hit an all-time high before sharply pulling back over the past several weeks.
This break-and-retest pattern is classic price action behavior — and now the market faces a critical decision: will it push lower to test a multi-year trendline, or regain strength and charge toward new all-time highs?
Why then when a company makes ATHs can price quickly drop back down?
For a variety of reasons including maybe this was a case of traders and investors taking some profits off the table.
Regardless, it's clear to see that for more than five years price has been making a series of higher highs and higher lows /aka/ an uptrend.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined advanced Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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