Campbell's looks primed for a pump for a variety of reasons
Long term monthly chart we can shows CPB recovering from the 200 period moving average along a very lengthy uptrend.
- Massive 336 day rounding bottom with rising momentum
- Golden Cross on daily chart
- Hit overbought during recovery
- Staples sector showing recent strength
- Moving into range where it previously gapped down, potential for sharp rise to top of the range
- Bullish flag since mid April
Long term monthly chart we can shows CPB recovering from the 200 period moving average along a very lengthy uptrend.
评论:
CPB rebounded strongly today, and with earnings coming up, maybe the trade is to pile in before other optimists position for a positive report.
Technically if the price breaks through the thin trading range it's threatening to the upside, there's potential for a gap-up on the daily chart towards $49!
Technically if the price breaks through the thin trading range it's threatening to the upside, there's potential for a gap-up on the daily chart towards $49!
评论:
Sadly, the CPB trade looks to be falling apart. Yesterday there was a clear breakdown in momentum, and today on the daily chart we observe a breakdown out of an upward trend channel. Price is now at a critical point of support at the top of the rounding bottom. If support fails, we'll look for a cup & handle to form, but price could indeed touch $42 in the bear case.
Things don't look as gloomy on a longer term monthly chart though. We still have that upward sloping 200 period moving average at our backs.
The stock isn't the quick win I initially hoped for, but with the 3% dividend, and an overall haven style stock (being a consumer staples company), I'll hold the position for now.
Things don't look as gloomy on a longer term monthly chart though. We still have that upward sloping 200 period moving average at our backs.
The stock isn't the quick win I initially hoped for, but with the 3% dividend, and an overall haven style stock (being a consumer staples company), I'll hold the position for now.
www.tradingview.com/..._DN20240515005440:0/