Flowers Foods $FLO Stock Testing Double Top Resistance On Beats, Dark Pool Trading

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Flowers Foods $FLO stock tested Double Top Resistance on November 21, 2022, in the wake of the company’s EPS and revenue beats.

Flowers Foods Q3 2022 Results

On November 10, 2022, Flowers Foods, producer of Nature’s Own, Dave’s Killer Bread, Wonder, Canyon Bakehouse, Tastykake, and other bakery foods, reported financial results for the company’s 12-week third quarter ended October 8, 2022. Flowers Foods reported Q3 adjusted EPS of 30c versus the consensus estimate of 28c. The company reported Q3 revenue of $1.16B versus the consensus estimate of $1.14B.

“Flowers’ record results in a challenging environment underscore the resiliency of our business and the ongoing effectiveness of our strategy,” said Ryals McMullian, president and CEO of Flowers Foods. “Our performance reflects strong results from our number one brands, which continue to resonate with consumers despite the impact of inflation on purchasing decisions. And we are successfully mitigating this inflationary impact with initiatives to enhance sales and margins.

Flowers Foods $FLO Stock Technical Analysis

Flowers Foods $FLO stock is in a technical strong uptrend. Long-term indicators suggest a continuation of the uptrend. The stock is testing major Double Top resistance with the MACD giving a buy signal on November 21, 2022.

Flowers Foods stock chart on November 21 2022 in an uptrend channel testing double top resistance with a positive MACD and rising money flow
Flowers Foods stock chart on November 21 2022 in an uptrend channel testing double top resistance with a positive MACD and rising money flow

Dark Pool Trading In Flowers Foods

A dark pool trade occurred in Flowers Foods $FLO stock on November 4, 2022. The unusually large dark pool trade was valued at $5.6 million. We are unable to determine if the dark pool trade was a buy or sell order.

Flowers Foods stock chart on November 21 2022 with a dark pool trade shown with an orange bar
Flowers Foods stock chart on November 21 2022 with a dark pool trade shown with an orange bar

Make sure to review this lesson on dark pool trading so that you understand the chart above.

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