This name has been trading within this channel that is getting tighter. Near term upside is what I am leaning on, but very tight stop loss. PS: Not Financial Advice. This idea is provided for entertainment purposes only. Do you own due diligence.
With long term support broken, I am leaning on HSY testing equilibrium unless immediate sellside liquidity holds. Such a quality name, so it is very difficult to short but at least I am not going long yet!
This chart is UGLY. There is absolutely no bullish momentum in play. A small lotto call position with no stop loss is the only play here although I don't foresee that happening. Not touching this one with a 1000 ft long pole.
Fake Breakdown and rip up for gap closure. Tight stop loss to the Bullish orderblock.
Parallel Channel- Fake breakdown to sellside liquidity and rip to high of the range