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Conagra Brands I (CAG) Breaks Through Resistance at $34.25

By Shiri Gupta

Conagra Brands I (NYSE:CAG) has opened bullishly above the pivot of $34.09 today and has reached the first level of resistance at $34.25. Should the shares continue to rise, the resistance pivots of $34.44 and $34.79 will be of interest.

Conagra Brands I share prices have moved between a 52-week high of $41.68 and a 52-week low of $32.93 and are now trading 4% above that low price at $34.27 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Conagra Brands I has overhead space with shares priced $34.27, or 18.9% below the average consensus analyst price target of $42.25. The stock should run into initial resistance at its 200-day moving average (MA) of $42.19 and subsequent resistance at its 50-day MA of $44.30.

SmarTrend recommended that its subscribers protect gains by selling shares of Conagra Brands I on November 10th, 2016 by issuing a Downtrend alert when the shares were trading at $35.55. Since that call, shares of Conagra Brands I have fallen 4.2%. 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