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Bullish Moving Average Cross by Hormel Foods (HRL)

By David Diaz

Hormel Foods (NYSE:HRL) shares have crossed bullishly above their 10-day moving average of $36.56 on a volume of 313K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Hormel Foods share prices have been bracketed by a low of $27.38 and a high of $80.78 and are now at $36.75, 34% above that low price. The 200-day and 50-day moving averages have moved 0.50% higher and 0.9% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Hormel Foods on February 1st, 2016 by issuing a Downtrend alert when the shares were trading at $40.64. Since that call, shares of Hormel Foods have fallen 10.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Hormel Foods

Ticker(s): HRL