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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.

Downtrend exhaustion stock alert presents a stock market trading strategy based on combination of timing signals, technical indicators, trend analysis and pattern recognition. Stock market alert is a warning signal. It indicates that long term downtrend is exhausted and probability of long term trend reversal is high. Downtrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for undervalued stocks. The strategy is based on taking long position on anticipation of downtrend reversal. Downtrend exhaustion timing strategy and stock trading system presents alerts for S&P 500 index members, ETFs and market indices. As S&P 500 trading system it shows excellent results for index timing also.

Downtrend Exhaustion

Archive
- 3/28/2024 -
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Hormel Foods Corp. (HRL) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range is overboughtBroken trend resistance line
Daily :Williams' Percentage Range is overboughtThe price has risen above the Parabolic SARThe price is above the upper Bollinger BandPrice is near the Fibonacci 23.6% retracement levelThe period of low volatility of the stock price
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It was a sixth positive week after 3 consecutive negative weeks for the Hormel Foods Corp. (HRL). During the week, the HRL gained 0.51 points, or 1.48%, and closed at 34.89 on Thursday, March 28, 2024. HRL was trading at average weekly trading volume.

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 downtrend resistance line (29.24) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HRL may retest the broken resistance line. It is considered to be a support line now. 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 chart has formed a Rising Channel chart pattern. The uptrend support line (35.61) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

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 uptrend had started on March 22, 2024 at 34.14 and reached 35.12 on March 28, 2024. HRL gained -0.98 points, or -2.87%, in 6 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 overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is below its signal line since March 20, 2024. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 4.01% on Friday. It is 59.41% 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.34
Williams' Percentage Range (W%R) 18.60
Overbought
Lane's Stochastic (%D-Slow) 73.86
Greed/Fear Indicator (GFI) 72.53
Moving Average Converg./Diverg. (MACD) 0.85
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.39
Williams' Percentage Range (W%R) 14.00
Overbought
Lane's Stochastic (%D-Slow) 72.30
Greed/Fear Indicator (GFI) 70.97
Moving Average Converg./Diverg. (MACD) -1.58
Trading Signals
Description Value Chart
Monthly Trendline Resistance 36.55
Monthly Trendline Support 35.61
Price 34.89
Daily Stochastic Crossing 34.88
Upper Bollinger Band 34.50
Weekly Stochastic Crossing 34.22
20 Day Moving Average 34.22
Parabolic System 33.37
Lower Bollinger Band 33.11
Yearly Trendline Resistance 32.70
50 Day Moving Average 31.86
Yearly Trendline Support 29.24
Sector and Industry
Description Name Rank
Sector Consumer Staples 5
Industry Packaged Foods & Meats 30
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 34.14
Low Date 03/22/2024
High 35.12
High Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.14
Low Date 03/22/2024
High 35.12
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 36.55
Support 35.61
Low 28.51
Low Date 02/14/2024
High 36.00
High Date 02/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 41.73
High Date 06/16/2023
Low 28.51
Low Date 02/14/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 32.70
Support 29.24
High 55.11
High Date 04/21/2022
Low 28.51
Low Date 02/14/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.