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Look for Shares of Hershey Co/The to Potentially Rebound after Yesterday's 2.17% Sell Off

By Nick Russo

Hershey Co/The (NYSE:HSY) traded in a range yesterday that spanned from a low of $89.84 to a high of $92.22. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $91.13 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Hershey Co/The has traded in a range of $89.10 to $115.82 and is now at $91.35, 3% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Hershey Co/The on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $97.24. Since that call, shares of Hershey Co/The have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders hershey co/the

Ticker(s): HSY