Diageo is expected to report earnings of 68.26p on revenue of £8.02bn.

Diageo is currently trading at around 3404p a share, we can see that the price has been stuck within this channel which is shown on the chart. On July 11^th we saw a bounce towards the upside of the lower trendline, climbing above the resistance of 3425p. A move above this level would have been taken as an indicator of a potential move higher. However, the price since has struggled to continue higher with the resistance of 3471p proving to be tough. A break and close above it may see a rise once again towards the upper trendline resistance of the channel. Another rejection could see the price plummet back to the lower end, but how recoverable this would be would have to be evaluated at the time. Support currently sits at 3373p, a slip below may see a fall towards 3329p. Looking at the technical indicators, MACD is positive and the RSI is neutral as it reads 52 but both are slightly faltering.