Noticing some bearish divergence on the RSI. HSY of late seems to be trading in a shape that resembles both an ascending triangle and/or a rising wedge. Due to my inability to tell which pattern it is trading in, I will remain neutral on Hershey at the moment. However, the stock has seen quite a run-up in price (since Covid), so HSY holders now may be an optimal...
A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.
Uptrend
It was a pullback to broken level ans there is good bullish candle over the S/R zone as a trigger.
The best price for SL can be 168 and 185 and 230 as TP
Hershey is looking like a strong buy as Bollinger Bands have given off a buy signal. Divergence is shown and MACD provides evidence of weakening bear strength.
My pick
$150 strike price expires 12/11 Buy Rating 4
Nothing is guaranteed!
$HSY negative over reaction following its earnings release has PEAD projecting a slight bullish outlook for the stock placing it in Drift C with price currently trading between the Median line and the lower boundary of the projected PEAD cone.
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HSY has been a slow mover but I hope chocolate never goes away! Long when descent from rising wedge is complete
HSY was trading in an ABC bullish pattern for a while but looks to be forming a cup and handle
ABC targets are 152.10 162.1
Also was in a falling wedge down at the bottom which ended up being bullish. HSY broke through the falling wedge only to get...
