Nov. 14 at 3:51 AM
$HRL is currently trading at
$22.66, below its 30-day moving average (MA30) of
$23.09 and 50-day moving average (MA50) of
$23.81, indicating a bearish trend. The Relative Strength Index (RSI) at 37.47 suggests that the stock is approaching oversold territory, which may indicate a potential reversal or bounce. However, the price is closer to the 60-day low of
$21.03 than the high of
$29.35, reinforcing a bearish sentiment.
For a trade plan, consider entering a long position if the price breaks above the MA30 at
$23.09, indicating a potential reversal. Suggested entry would be at
$23.10. Set a stop loss at
$21.90 to manage risk. Target 1 could be set at
$24.50, near the MA50, and Target 2 at
$25.50, allowing for further upside potential.
Monitor the RSI for signs of recovery as confirmation for the upward move.
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