HSY reaching a crucial stageThe high of right shoulder of head-and-shoulder pattern, which was formed in the first half of June 2023 (blue) was re-tested in the second half of June (purple). This second shoulder pattern broke the neckline (yellow) and the downtrend began.
HSY is close to a major support of 216. Price is likely to bounce from this support when RSI, too, would be oversold (approx. 20). This is also when Squeeze Momentum indicator is likely to turn dark red in colour, meaning that bearish trend is ending.
