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Watch for Shares of Conagra Brands I (CAG) to Approach Support at $35.58

By David Diaz

Conagra Brands I (NYSE:CAG) has opened bearishly below the pivot of $36.26 today and has reached the first level of support at $35.82. Analysts will be watching for a cross of the next downside pivot targets of $35.58 and $34.90.

Conagra Brands I has overhead space with shares priced $35.88, or 13.5% below the average consensus analyst price target of $41.46. The stock should find initial resistance at its 200-day moving average (MA) of $36.45 and further resistance at its 50-day MA of $37.18.

In the past 52 weeks, Conagra Brands I share prices have been bracketed by a low of $32.16 and a high of $39.43 and are now at $35.88, 12% above that low price. Over the last five market days, 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 Conagra Brands I and will alert subscribers who have CAG in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts conagra brands i

Ticker(s): CAG