Campbell Soup vents off oversold saturation - Analysis - 31-01-2023

Campbell Soup's stock (CPB) rose in the intraday levels while recouping some recent losses as it also vented off oversold saturation in the RSI with positive signals out of them, amid the dominance of the downward correctional wave in the short term, with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, seeking a bottom to bolster it higher and targeting the support of 49.50, provided the resistance of 53.28 holds on.

Expected trend for today: Bearish