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Downtrend Broken Resist.Archive
- 4/5/2024 -
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The Hershey Company (HSY) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was the negative week for the The Hershey Company (HSY). During the week, the HSY gave back -0.76 points, or -0.39%, and closed at 193.74 on Friday, April 5, 2024. Weekly volume was 22% above average.
 Long-term trend: [See HSY long-term trend chart]
A long-term uptrend had started on March 10, 2009 at 30.27 and reached 276.88 on May 1, 2023. HSY gained -246.61 points, or -814.70%, in 737 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 141.37 and resistance is at 212.87. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See HSY medium-term trend chart]
A medium-term downtrend had started on May 1, 2023 at 276.88 and reached 178.82 on December 21, 2023. HSY lost 98.06 points, or 35.42%, in 33 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 179.45 and resistance is at 198.74. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a medium-term trend.
 Weekly Technical Indicators: [See HSY weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 29, 2023. Use the following link to access a MACD help.
 Short-term trend: [See HSY short-term trend chart]
A short-term uptrend had started on March 26, 2024 at 189.11 and reached 201.22 on April 2, 2024. HSY gained -12.11 points, or -6.40%, in 7 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See HSY daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 2, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
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