JD Sports is expected to report its earnings on Wednesday. Currently, its stock price is trading at around 143p a share.

Taking a look at JD Sports as the British retailer is expected to report earnings on Wednesday. Currently, its stock is trading at around 143p a share. Applying the Fibonacci retracement to the chart, we can see that the price on the weekly timeframe has been in a downtrend since the 6^th of March, but this was only confirmed after the support along the 50% Fib (162p) failed to hold. It has now approached the 38.2% Fib (144p) and closed below it in the last week at 142p. The longer-term bullish trend is not over as of yet, as we could see some sort of consolidation along the 38.2% Fib if the earnings outcome is positive. In that scenario, we would then look towards the resistance levels above. Previous support of 162p would then act as the first point of resistance, followed by 179p (61.8% Fib) and 201p (76.4% Fib). A break and close above 201p could open the door to the all-time high of 235p, last seen in 2021. However, this is a long-term outlook. Short-mid term outlooks would be the 50% and 61.8% Fibs. On the other hand, if the earnings report on Wednesday is negative, then we could see further downside. A strong break and close below the 38.2% Fib may see a slide towards the 23.6% Fib (123p). Looking at the technical indicators, both of the indicators are currently negative with the RSI reading 43.