ConAgra Foods, Inc.
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|It was a fourth consecutive positive week for the ConAgra Foods, Inc. (CAG). During the week, the CAG gained 1.19 points, or 3.23%, and closed at 38.06 on Friday, March 09, 2018. It was the best weekly gain since December 1, 2017. CAG was trading at average weekly trading volume. |
Long-term trend: [See CAG long-term trend chart]
A long-term downtrend had started on November 8, 2016 at 48.86 and reached 32.16 on August 30, 2017. CAG lost 16.70 points, or 34.18%, in 42 weeks. The price is now at the 35.33% retracement level.
Medium-term trend: [See CAG medium-term trend chart]
A medium-term downtrend had started on December 21, 2017 at 39.21 and reached 34.75 on February 6, 2018. CAG lost 4.46 points, or 11.37%, in 6 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 32.27 and resistance is at 38.93. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See CAG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 15, 2017. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
Short-term trend: [See CAG short-term trend chart]
A short-term uptrend had started on February 6, 2018 at 34.75 and reached 38.30 on March 6, 2018. CAG gained -3.55 points, or -10.22%, in 28 days. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (36.35) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See CAG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since February 22, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.