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Advanced TA SearchArchive
- 4/5/2024 -
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Hormel Foods Corp. (HRL) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Hormel Foods Corp. (HRL). During the week, the HRL gave back -0.19 points, or -0.54%, and closed at 34.70 on Friday, April 5, 2024. It was the worst weekly loss since February 9, 2024. Weekly volume was 14% above average.
 Long-term trend: [See HRL long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 55.11 and reached 28.51 on February 14, 2024. HRL lost 26.60 points, or 48.27%, in 94 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (26.18) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.
 Medium-term trend: [See HRL medium-term trend chart]
A medium-term uptrend had started on February 14, 2024 at 28.51 and reached 36.00 on February 29, 2024. HRL gained -7.49 points, or -26.27%, in 2 weeks. The price is now at the 17.36% retracement level.
 Weekly Technical Indicators: [See HRL 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 February 16, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See HRL short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 35.26 and reached 34.52 on April 5, 2024. HRL lost 0.74 points, or 2.10%, in 1 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 March 20, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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 distance between the Bollinger Bands is falling, and it was 4.38% on Friday. It is 55.44% 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.
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