CAG trade ideas
CAG Should Be Gobbled Up At $26.00Recently, the leading packaged food company ConAgra Foods Inc (NYSE:CAG) has declined sharply on the charts. The stock topped out on August 5th, 2013 at $37.21 a share. Since that time, ConAgra Foods Inc stock has been steadily declining. Last week, the food company warned of a 7% decrease in consumer goods volume. This news has certainly put pressure on the stock price of ConAgra Foods Inc. Traders and investors should now watch the $26.00 level as the next important support level for ConAgra Foods Inc stock. This is a level where the stock based sideways in 2011, and 2012 before breaking out. Often, prior breakout levels from the past will be defended by the institutional money crowd when retested. This technical setup makes ConAgra Foods Inc stock very appealing around the $26.00 level.
Nick Santiago
Chief Market Strategist
www.InTheMoneyStocks.com
Conagra, More downside, prior w bottom top lines up with 261.8When i first started to look at this chart I was not very happy that i was spending time with it.
However the more time I started to analyze the chart, I began to like some of the confluences of where price may go to.
The 2.618 extension, lines up with a prior top of a w bottom.
I just cant seem to find anything that points out from me seeing the market respecting the 161.8.
However I am bit cautious once price goes to the the 100% extension.
CAG - High Probality SetupFor me is a bat. =)
Now, you take a look at the divergences of the price, we have a triple button!!! touching downward trendline resistances, stochastics looking very good for get out of this oversold level, and we have to see if this new move get hight to the $33 level, because into it, we gonna have some buying for the next week.
This is an especulation, don't try to follow me, take care. Thank's.
CAG - High Probality SetupFor me is a bat. =)
Now, you take a look at the divergences of the price, we have a triple button!!! touching downward trendline resistances, stochastics looking very good for get out of this oversold level, and we have to see if this new move get hight to the $33 level, because into it, we have some buying for the next week.
This is an especulation, don't try to follow me, take care. Thank's.