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Hormel Foods Crosses Above its 10-day MA (HRL)

By Shiri Gupta

Hormel Foods (NYSE:HRL) crossed over its 10-day moving average of $36.64 on a volume of 196K 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.

Over the past year, Hormel Foods has traded in a range of $27.38 to $80.78 and is now at $36.88, 35% above that low. 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 10.3%. 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