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After Yesterday's Rally of 1.74% Shares Could Potentially Pullback

By Amy Schwartz

Hormel Foods Crp (NYSE:HRL) traded in a range yesterday that spanned from a low of $43.29 to a high of $44.17. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $43.98 on volume of 862,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Hormel Foods Crp has traded in a range of $30.11 to $44.17 and is now at $43.77, 45% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.6%.

SmarTrend recommended that subscribers consider buying shares of Hormel Foods Crp on October 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.87. Since that recommendation, shares of Hormel Foods Crp have risen 5.7%. We continue to monitor HRL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders hormel foods crp

Ticker(s): HRL