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Look for Shares of Hormel Foods Crp to Potentially Pullback after Yesterday's 1.40% Rise

By David Diaz

Hormel Foods Crp (NYSE:HRL) traded in a range yesterday that spanned from a low of $33.57 to a high of $34.24. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $34.15 on volume of 505,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Hormel Foods Crp on February 1st, 2016 by issuing a Downtrend alert when the shares were trading at $40.64. Since that call, shares of Hormel Foods Crp have fallen 17.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Hormel Foods Crp share prices have moved between a 52-week high of $40.00 and a 52-week low of $32.26 and are now trading 6% above that low price at $34.15 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has declined 0.9%.

Keywords: rebounders hormel foods crp

Ticker(s): HRL