Hormel Foods Corp.
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|It was the negative week for the Hormel Foods Corp. (HRL). During the week, the HRL gave back -0.36 points, or -0.99%, and closed at 35.90 on Friday, May 18, 2018. Weekly volume was -30% below average. |
HRL is a member of Consumer Goods Sector. Consumer Goods is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See HRL long-term trend chart]
A long-term downtrend had started on February 16, 2016 at 45.72 and reached 29.75 on October 25, 2017. HRL lost 15.97 points, or 34.93%, in 88 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 31.19 and resistance is at 37.24. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
Medium-term trend: [See HRL medium-term trend chart]
A medium-term uptrend had started on October 25, 2017 at 29.75 and reached 38.00 on December 5, 2017. HRL gained -8.25 points, or -27.73%, in 5 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (35.12) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.
Weekly Technical Indicators: [See HRL weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since April 6, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See HRL short-term trend chart]
A short-term uptrend had started on May 3, 2018 at 35.16 and reached 36.60 on May 11, 2018. HRL gained -1.44 points, or -4.10%, in 8 days. The price is now at the 48.61% retracement level.
Daily Technical Indicators: [See HRL daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 1, 2018. The distance between MACD and the signal line is low, but getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3.79% on Friday. It is 55.04% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.