Yum! Brands falls sharply after providing revised guidance, levels to watch

theflyonthewall.com

The stock is down over 9.8% at time of writing, close to session lows. The company yesterday updated guidance for fiscal year 2012 and 2013 which broadly disappointed. One major focus of concern, leading to a host of sell-side downgrades today, was the deceleration in growth in China same store sales. The company is estimated to get 37% of its profits from Chinese operations, which is a reduction from prior years. At the current price of $67.03, next support is at $65.81. Resistance is at $68.

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