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Conagra Brands I (CAG) Crosses Pivot Point Resistance at $30.90

By Shiri Gupta

Conagra Brands I (NYSE:CAG) has opened bullishly above the pivot of $30.65 today and has reached the first level of resistance at $30.90. Should the shares continue to rise, the resistance pivots of $31.06 and $31.47 will be of interest.

Over the past year, Conagra Brands I has traded in a range of $22.15 to $35.59 and is now at $30.74, 39% above that low. The 200-day and 50-day moving averages have moved 0.17% higher and 1.17% higher over the past week, respectively.

Potential upside of 34.9% exists for Conagra Brands I, based on a current level of $30.74 and analysts' average consensus price target of $41.46. The stock should hit resistance at its 50-day moving average (MA) of $32.01, as well as support at its 200-day MA of $29.43.

SmarTrend recommended that subscribers consider buying shares of Conagra Brands I on November 20th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.41. Since that recommendation, shares of Conagra Brands I have risen 11.2%. We continue to monitor CAG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts conagra brands i

Ticker(s): CAG