HSY closes higher for the 2nd day in a row

The Hershey Company (HSY) Technical Analysis Report for Apr 16, 2018

Highlights

HSY unable to break through key resistance level
HSY closes higher for the 2nd day in a row
HSY finds buyers again around 95.46
HSY pushes through previous session high
HSY rises to highest close since April 9th

TQ Sentiment

Report Sentiment: 28% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, HSY ended Monday at 96.80 gaining $0.84 (0.88%). Today's closing price of 96.80 marks the highest close since April 9th. Closing above Friday's high at 96.29, the share confirms its breakout through the prior session's high having traded $0.89 above it intraday.

Daily chart for HSY

Volatility

Monday's trading range was $1.72 (1.8%), that's slightly below last trading month's daily average range of $1.89. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 95.10 and 97.96 which it has been in now for the last trading week.

Support/Resistance

Unable to break through the key technical resistance level at 96.97, the market closed below it after spiking as high as 97.18 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 95.36 in the previous session, the stock found buyers again around the same price level today at 95.46.

Trend

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

Order Flow

Selling might accelerate should prices move below the close-by swing low at 95.10 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for The Hershey Company

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