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Conagra Brands I (CAG) Breaks Through Resistance at $23.12

By Amy Schwartz

Shares of Conagra Brands I (NYSE:CAG) have bullishly opened above the pivot of $23.05 today and have reached the first resistance level of $23.12. Should the shares continue to rise, the resistance pivots of $23.22 and $23.39 will be of interest.

Conagra Brands I has overhead space with shares priced $23.04, or 44.4% below the average consensus analyst price target of $41.46. The stock should hit resistance at its 200-day moving average (MA) of $31.93, as well as support at its 50-day MA of $22.27.

In the past 52 weeks, shares of Conagra Brands I have traded between a low of $20.22 and a high of $39.43 and are now at $23.04, which is 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Conagra Brands I on November 14th, 2018 by issuing a Downtrend alert when the shares were trading at $33.52. Since that call, shares of Conagra Brands I have fallen 31.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts conagra brands i

Ticker(s): CAG