LEVI is testing its resistance level at around $16.70

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Today’s instrument is the Levi Strauss, an apparel company, traded in NYSE exchange under the ticker LEVI.

Looking at the LEVI’s chart, we can see that, after a big drop from around $17.50 to around $15 on the 6th of April, when it announced good quarterly earnings but with worries about future revenue and lower margins due to high costs, it was recovered to the lastly traded price at $15.75.

Today, we could expect the upward reaction to be continued, and test its resistance level at around $16.30, and if it is able to pass that level, then it should approach its next one at around $16.70.