Over the longer term the Chinese pork herd is decimated by swine flu. It will take years to recover. So it is strongly expected that substitution to chicken will lead to stronger chicken volume and pricing. However over the near term the US corn crop looks very poor right now due to poor planting conditions. The fear is that feed prices will rise.
The reports...
One of the main reasons that Price Action works so well is because the market has a memory. Here, I have studied the price behavior of Pilgrim's Pride and its relations to the Fibonacci levels. Ever since the start of this ticker in the exchange, the price has indicated sensitivity to the 50% Fibonacci level after a strong bearish move ends. In other words,...
PPC - January 5, 2019 - Trade Setup
With a recent break over the 8ma,
PPC has a good oversold hook setup
that looks to retest the 20ma at 16.17
and could even move to candlestick
resistance at 17.
An intraday high potential, Back Tested Long Analysis.
We ll try to find an entry price within the expected pull back zone 17.40- 17.69 as previously being back tested.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study,...
So this spread revolves around the simple, brutal strength that we are seeing in the economy right now. People are spending huge amounts of money on eating out right now, and given the ISM and UMCSI numbers I don't see that slowing down any time soon. Here, we pit a strong, cyclical restaurant chain specializing in chicken against a weak, defensive, consumer...
I personally wouldn't take a long trade here; I wouldnt mind a short trade here.
There have been no impulse moves to show desire to move this out of the downward channel. Pure consolidation.
I believe a fake break will occur out of the downward channel that i've drawn; it will fail and will be brought back to downward fall.
Fyi, to anyone reading my posts,...
Pilgrim's Pride Chicken is the largest chicken producer in the United States. Not to state the obvious but..."everyone loves chicken". During Super Bowl Sundays, 1.25 billion chicken wings are consumed in the United States. Plus, every other day of the year is a great day for some yummy, healthy white meat of the bird, chicken. PPC has had some negative news...
Pilgrim's Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators. It offers a range of products to its customers through national and international distribution channels. Its fresh chicken products consist of refrigerated (non-frozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. Its prepared chicken products include ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, some of which are either breaded or non-breaded and either marinated or non-marinated. As of December 25, 2016, the Company marketed its portfolio of fresh, prepared and value-added chicken products across the United States, Mexico and in approximately 80 other countries.
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PPC
