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Hormel Foods Crp Set to Possibly Rebound After Yesterday's Selloff of 1.07%

By Nick Russo

Hormel Foods Crp (NYSE:HRL) traded in a range yesterday that spanned from a low of $40.66 to a high of $41.25. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $40.91 on volume of 665,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Hormel Foods Crp has traded in a range of $34.12 to $46.26 and is now at $40.66, 19% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Hormel Foods Crp and will alert subscribers who have HRL in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders hormel foods crp

Ticker(s): HRL