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Next Resistance Level for Hormel Foods Crp (HRL) is $49.19

By David Diaz

Hormel Foods Crp (NYSE:HRL) has opened bullishly above the pivot of $48.34 today and has reached the first level of resistance at $48.52. Investors may be interested in a cross of the next upside pivot targets of $49.19 and $50.04.

In the past 52 weeks, shares of Hormel Foods Crp have traded between a low of $37.00 and a high of $51.53 and are now at $48.74, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Hormel Foods Crp (NYSE:HRL) is currently priced 26.8% above its average consensus analyst price target of $35.67. Hormel Foods Crp shares have support at the 50-day moving average (MA) of $45.59 and additional support at the 200-day MA of $43.44.

SmarTrend recommended that subscribers consider buying shares of Hormel Foods Crp on March 17th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.78. Since that recommendation, shares of Hormel Foods Crp have risen 5.7%. We continue to monitor HRL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts hormel foods crp

Ticker(s): HRL