Acuity Brands is expected to release earnings tomorrow of $2.73 on revenue of $961m for Q1 of 2023. The outlook is currently neutral with potential for further upside.

Acuity brand’s stock price currently sits at around $182.66 a share. Looking at the daily interval, we can see that the price has crept above its previous high, then retraced and then crept higher again on two occasions. From a technical viewpoint, the stock has created higher highs and higher lows which tends to be a positive sign (usually, not guaranteed). The higher lows are highlighted by the red ovals, which also clearly demonstrates that the support along the ascending trendline is stable. Only a break below $165.57 would suggest otherwise for the time being. Resistance above sits at $187.76 then at $197.19. A move above $197.19 may see a test of the major resistance created on March 9^th, which sits at $202.96 (green oval). Over to the technical indicators, MACD has turned positive and but RSI is neutral as it reads 50. Additionally, the company is expected to release earnings tomorrow of $2.73 on revenue of $961m for Q1 of 2023. The short-mid term outlook of the stock might be dependent on the outcome of those figures.