Show Me the Money! 16 June, 2020, by Vladimir Rojankovski, Grand Capital Chief Analyst
Hormel Foods (HRL) performed well in the index correction episode of the end of last week, losing only 2.4% (two point four per cent) in its lowest point against the 6%+ (six percent plus) index correction. That said, HRL remains a defensive stock with a Beta coefficient of...
With all the BS going on. The one thing I can be certain about is that this goes up. The only thing people are buying is food and I know how much Americans need their packaged meat. They shut down a couple factories due to covid, but they are on track to have a strong year and I would want to hold this stock thru earnings.
HRL is a strong stock, and has made three pushes to the downside. It is at the third push to the downside, at a point of critical support. I have drawn a line from prior support from price action and volume profile where I believe buyers will step in. There is divergence between price action and the CCI (10) indicator and weak divergence between price action and...
Hormel Foods is an industrial scale grocery supplier. Similar footprint to that of Campbell's $CPB but with a lower OpEx and higher revenues.
Notably, the company trades at nearly 3x P/S versus Campbell's which trades at 2x P/S.
Both seem like logical, undervalued, consumer staples, though I would see a convergence in this price differential as we come closer...
HRL - consumption industry
Last month it released very positive financial statements.
A clear level of resistance at each interval is at 44
The stock is on a major upward trend.
RSI is not oversold, OBV is still low. also, note that the stock is trying to cross the upper bollinger strap.
Following it for breaking the 44 level after I see a confirmation candle...
![HRL: Hormel Foods Corp [ NYSE: HRL ]](https://s3.tradingview.com/h/HAWAtSN5_mid.png "Hormel Foods Corp [ NYSE: HRL ]")
![HRL: Hormel Foods Corp [ NYSE: HRL ]](https://s3.tradingview.com/n/NWIgL4Pc_mid.png "Hormel Foods Corp [ NYSE: HRL ]")
