CAG likely continues lower after earnings; next support at $11.78.

lastly guys uh earnings uh they came out before the bell is Kagra now Kagra as you see here they did actually have decent earnings but they are also shrinking in some of their volume sales so investors did push the price on Kagra down

there's a couple reasons I bring up this chart yes one today it was in the news off of earnings but then also to show you what could potentially happen on this chart of Jable. You know, if we said that we had a breakdown, look what happened with Kagra over here.

We had a breakdown, came down, found support, went right back up to that trend line, and then faded. That's the type of breakdown, retrace, fade play that I'm talking about.

We pull back out to the weekly time frame, and you can see where this came from. This is a long, long time ago. 1987, guys. Probably a lot of you weren't born yet. I know I was, but I was still a young back then.

But you can see that 1987 connected over to pivot low here in the uh '08 and after the 0708 financial crisis. And then you can see that trend line strung all the way out was an X marks the spot resistance level.

So this continued decline. Now, yeah, we could find support here, but it likely tells me that this next level of support is going to be the next leg lower with this continued sell after earnings at $11.78.

That should be the next key level of support that also is very similar to where we were back in 08 and ' 09. So, it's still potential more downside on the chart there for CAG.

Again, a lot of their um um negative aspects of the reported earnings was the um inflation costs and the cost of transporting their goods. Makes sense. Higher diesel costs are going to trickle down to everyday items that we do buy.