HRL breaks below previous session low

Hormel Foods Corporation (HRL) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


HRL runs into sellers again around 42.22
HRL breaks below previous session low


HRL ended the week 1.48% higher at 41.90 after losing $0.28 (-0.66%) today on low volume. Closing below Thursday's low at 41.91, Hormel Foods confirms its breakout through the previous session's low having traded $0.20 below it intraday.

Daily Candlestick Chart (HRL as at Sep 14, 2018):

Daily technical analysis candlestick chart for Hormel Foods Corporation (HRL) as at Sep 14, 2018

Friday's trading range was $0.51 (1.21%), that's below last trading month's daily average range of $0.72. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.

Prices are trading close to the key resistance level at 42.29. After having been unable to move above 42.29 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 42.22.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Buying could speed up should prices move above the nearby swing high at 42.29 where further buy stops might get activated.

Market Conditions for HRL as at Sep 14, 2018

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