HEINZ: Strong Value for 2020; Wait for ConfirmationOver my past several ideas I have been discussing about "value for 2020" and here is yet another example of one. Contrary to some of my other sectors that I have touted (which have already built momentum), HEINZ still has quite a bit of short interest and negative momentum.
However, this is an example of a stock that got slaughtered in 2019 and due for quite a drastic run up - when that happens is anybody's guess specifically but with a new CEO, a stock thats heavily undervalued and a juicy dividend, its hard to resist buying and holding.
With a likely short coming sometime in 2020 in Q1, I see little reason why the stock doesn't close the gap to just below $29.00, in which case the stock would be a good buy. If not, we would want to wait for a further push above this month-level consolidation before putting in a buy.
- zSplit
