H1RL34 trade ideas
Hormel Foods Corp. $HRL - investment idea 💡 This idea is based on my technical analysis only.
Do your research and trade on your own risk!
Hormel Foods Corp. $HRL - investment idea 💡 This idea is based on my technical analysis only.
Do your research and trade on your own risk!
(MID TERM) Hormel FoodsNOT FIANANCIAL ADVICE! Bounce off major support with CBD on the 4hr and Daily. Wanted conformation on the bounce and got it on a bad day in the market. Given conditions of the market manage your risk/tolerance.
$HRL with a bearish projection after earning release$HRL posted its earnings with a negative under reaction following its release. The PEAD projected a bearish outlook for the stock placing it in Drift D
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HRLBased on my analysis:
1. HRL breakout from trendline with high volume.
2. MACD line entered below 0 level.
3. Thus, HRL will go down to 45.90-45.80 USD.
Syeikh Hafiz
Stock Market Analyst
Crazy (5150) about HRL$49 has been an important price level since mid-Feb when it provided resistance for an all time high.
The same $49 level provided strong resistance for the rising wedge , except for a couple of fakeouts marking $51.50 as the new all time high.
Both levels have remained important. $49 was retested shortly after the breakout of the rising wedge . $51.50 provided "long but weak" resistance, with a failed breakout in mid-Aug.
Now we're hanging around $49 again - are we going to keep falling or turn back around? I'm bullish for the following reasons:
- $49 was such a strong resistance that I believe it is just shaking traders out on its way to becoming a stronger support level .
- $49 held support with strong bullish hammers on Jul 22 and Sep 17.
- Even though Sep 18 broke below $49, the next trading day had a strong doji tug of war between buyers and sellers, followed by a green day. IMO this signals a fakeout and not an actual break of support.
- TTM and MACD are juuuuust starting to turn around. Not strong enough to be bullish signals on their own, but in context I would say these are encouraging.
I have the following price targets:
- $51.50 (previous resistance)
- $53.00 (approx previous ATH )
- $57.00 ( rising wedge breakout target, assuming we're still in a "retest" phase and not a "breakdown" phase...)
If we close any day this week below the doji body of $48.50 or so, then I will consider this pattern broken and would then expect more downside. If that happens I will look for another bullish reversal in the $45-$47 range.
Hormel Foods: additional argument for keeping in your portfolioShow Me the Money! 16 June, 2020, by Vladimir Rojankovski, Grand Capital Chief Analyst
Hormel Foods (HRL) performed well in the index correction episode of the end of last week, losing only 2.4% (two point four per cent) in its lowest point against the 6%+ (six percent plus) index correction. That said, HRL remains a defensive stock with a Beta coefficient of -0.02 (minus zero point zero two).
As meat processing plants across the U.S. continue to be the epicenters of local coronavirus outbreaks, Hormel Foods said on June 10 that the its preventive measures are very successful at its facilities. The initiative, called "Keep COVID Out," is said to have limited the number of infected people at the company's plant in Austin, Minnesota to 50, with a workforce of about 1,800 (eighteen hundred), which is about 2.7% (two point seven per cent).
This figure represents a huge difference from the reality of other US meat processing companies. In a recent example, the coronavirus infected 22%, or 555 (five hundred fifty five) people, of Tyson Foods (TSN) workers in Storm Lake, Iowa. This is positive news for HRL and provides additional arguments for keeping its stock in your portfolio.
Good growth and dividensBased on their median growth I am happy with their performance and trust they will grow slowly but strongly just like their dividends
The big potential for HORMEL FOODS CORPHello traders, for a few days the buyers have responded, it may be that the market returns ...
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Update: HORMEL IS THE SAFEST BET OUT THERE! With all the BS going on. The one thing I can be certain about is that this goes up. The only thing people are buying is food and I know how much Americans need their packaged meat. They shut down a couple factories due to covid, but they are on track to have a strong year and I would want to hold this stock thru earnings.
Momentum, Retracement, Support and Indicator Divergence for HRLHRL is a strong stock, and has made three pushes to the downside. It is at the third push to the downside, at a point of critical support. I have drawn a line from prior support from price action and volume profile where I believe buyers will step in. There is divergence between price action and the CCI (10) indicator and weak divergence between price action and the RSI (10) indicator, both on the hourly. I have set my stop loss at the low below the volume profile , and have set my take profit at the volume nearest 1 measured move from my entry.
Hormel Foods Corp [ NYSE: HRL ]Hormel Foods Corp
Pending Order Placement
Entry Placement 50.83
Take Profit Placement 57.77
Stop Loss Placement 46.20
HORMEL WILL SEE NEW HIGHSThis is set up beautifully. I didn't make any bets on the market but this seems like a safe bet. If it goes any lower I will exit.
Hormel Foods Corp Forms Cup w Handle - $HRLHRL is forming cup w handle. Detailed explanation in on the chart. If you like, please "like" :)
Hormel Foods Corp [ NYSE: HRL ]Hormel Foods Corp
Pending Order Placement
Entry Placement 49.00
Take Profit Placement 52.64
Stop Loss Placement 46.57
Hormel Foods versus Campbell's Hormel Foods is an industrial scale grocery supplier. Similar footprint to that of Campbell's $CPB but with a lower OpEx and higher revenues.
Notably, the company trades at nearly 3x P/S versus Campbell's which trades at 2x P/S.
Both seem like logical, undervalued, consumer staples, though I would see a convergence in this price differential as we come closer to earnings.
CNBC are shills straight up! Especially Cramer!
Hormel is "Recession Proof"
It's not technical proof!
HRL is interesting for a long play
HRL - consumption industry
Last month it released very positive financial statements.
A clear level of resistance at each interval is at 44
The stock is on a major upward trend.
RSI is not oversold, OBV is still low. also, note that the stock is trying to cross the upper bollinger strap.
Following it for breaking the 44 level after I see a confirmation candle and the entry of volume. it may take some time though… support of a bull market wouln't hurt, so following it as well.
This is not a recommendation to buy or sell,
insights are always welcome.
Pair Trading Idea HRL/HSYApplying some of the most popular indicators on the pair HRL/HSY shows an interesting pattern. While HSY has been clearly outperforming HRL since December 2018, a trend reversal seems to occur. HRL might catch up in the coming days and weeks.
