LEVI -SHORT TERM BEARISH SCENARIOOn Wednesday Levi Strauss & Co. released its 4Q results.
Sales rose 22% to $1.59 billion, also ahead of the $1.55 billion analysts expected and the adjusted earnings came in at 46 cents a share, above the 42-cent consensus estimate.
The company’s 2022 outlook remained intact, as Levi Strauss highlighted strong U.S. sales and ongoing demand in Europe.
Despite the good results, short-term bearish movement is expected into the price channel to the major support of $16.
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