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HORMEL FOODS CORPHORMEL FOODS CORPHORMEL FOODS CORP

HORMEL FOODS CORP

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HRL trade ideas

Hormel...A Meat to stop loafing ??This may be a profitable long shot. Hormel Foods (HRL) is at an interesting juncture. Basically HRL has retraced 50% of the 4 year run-up from October 2017. A Harmonic pattern would suggest a possible pause and reversal here. Additionally CD is a 1.41 extension of the AB leg which is marked. 2 caveats: 1) This is a weekly chart and could take a while to to materialize and 2) Support is needed from general market which are currently in flux and need stable political and economic stability. A would suggest that a high volume weekly close over $42,26 may be enough to reverse HRL's direction. Please don't chase and keep an eye which direction the wind is blowing from. As always not investment advice and do your own homework. A sustained break of current levels probably targets the $38.50 region. Targets etc. are marked. S.
NYSE:HRLLong
by Steve666
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.
NYSE:HRL
by oldstuff
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.
NYSE:HRL
by VladimirRojankovski
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.
NYSE:HRLLong
by brennanman007