When Hormel Foods ($HRL) Moves Investors should Listen
November 14, 2023, 10:45 am ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for HRL
- Buy HRL slightly over 31.70 target 34.58 stop loss @ 31.61 Details
The technical summary data tells us to buy HRL near 31.70 with an upside target of 34.58. This data also tells us to set a stop loss @ 31.61 to protect against excessive loss in case the stock begins to move against the trade. 31.70 is the first level of support below 32.875 , and by rule, any test of support is a buy signal. In this case, support 31.70 would be being tested, so a buy signal would exist.
- Short HRL slightly under 34.58, target 31.70, stop loss @ 34.68 Details
The technical summary data is suggesting a short of HRL as it gets near 34.58 with a downside target of 31.70. We should have a stop loss in place at 34.68though. 34.58 is the first level of resistance above 32.875, and by rule, any test of resistance is a short signal. In this case, if resistance 34.58 is being tested, so a short signal would exist.
Swing Trading Plans for HRL
- Buy HRL slightly over 33.03, target 34.58, Stop Loss @ 32.93 Details
If 33.03 begins to break higher, the technical summary data tells us to buy HRL just slightly over 33.03, with an upside target of 34.58. The data also tells us to set a stop loss @ 32.93 in case the stock turns against the trade. 33.03 is the first level of resistance above 32.875, and by rule, any break above resistance is a buy signal. In this case, 33.03, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short HRL slightly near 33.03, target 32.14, Stop Loss @ 33.13. Details
The technical summary data is suggesting a short of HRL if it tests 33.03 with a downside target of 32.14. We should have a stop loss in place at 33.13 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 33.03, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for HRL
- Buy HRL slightly over 33.03, target 34.58, Stop Loss @ 32.95 Details
If 33.03 begins to break higher, the technical summary data tells us to buy HRL just slightly over 33.03, with an upside target of 34.58. The data also tells us to set a stop loss @ 32.95 in case the stock turns against the trade. 33.03 is the first level of resistance above 32.875, and by rule, any break above resistance is a buy signal. In this case, 33.03, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short HRL slightly near 33.03, target 32.73, Stop Loss @ 33.11. Details
The technical summary data is suggesting a short of HRL if it tests 33.03 with a downside target of 32.73. We should have a stop loss in place at 33.11 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 33.03, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Hormel Foods (HRL) available here: HRL.
HRL Ratings for November 14:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Strong |
Weak |
| P1 |
0 |
0 |
31.70 |
| P2 |
32.34 |
32.14 |
34.58 |
| P3 |
32.73 |
33.03 |
37.41 |
AI Generated Signals for HRL
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Hormel Foods (NYSE: HRL) report below is a real world example. Included are trading plans for HRL, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for HRL:
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