|
|
Archive
- 11/8/2024 -
Sign In to see current Signals. |
Hormel Foods Corp. (HRL) Technical Analysis
|
 |
| Summary:
| | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Hormel Foods Corp. (HRL). During the week, the HRL dropped -0.60 points, or -1.94%, and closed at 30.32 on Friday, November 8, 2024. Weekly volume was -13% below average.
HRL is a member of Consumer Staples Sector. Consumer Staples 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 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 Wedge chart pattern. The trend support level is at 27.68 and resistance is at 31.97. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.
Medium-term trend: [See HRL medium-term trend chart]
A medium-term downtrend had started on May 20, 2024 at 36.86 and reached 29.21 on September 4, 2024. HRL lost 7.65 points, or 20.75%, in 15 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 28.33 and resistance is at 30.90. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See HRL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 November 6, 2024 at 31.49 and reached 29.98 on November 8, 2024. HRL lost 1.51 points, or 4.80%, in 2 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 Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 daily MACD line is below its signal line since October 25, 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.
| |
|
|