1. CPB is consolidating around the support area defined by the early June lows. Hasn't sold this low since 2012.
2. Dec 24th is large red candle.
3. Dec 26th and 27th are hammers.
4. Dec 26th and 27th are Harami patterns of Dec 24th.
5. Dec 28 is looking to close as a Harami cross pattern. Inverted hammer at worst.
6. MACD gap is wide.
7. RSI indicates oversold.
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based ...
This week: three candidates for directionals and one nondirectional premium selling play ... .
CPB:
Although timing could have been better to catch the absolute bottom in this, implied volatility rank and background implied volatility remain quite high in this underlying (61/35). Given price weakness coupled with high implied volatility rank, I would think that ...
Well after an epic earnings miss CPB looks to be at the very bottom of its range. Looking at the weekly chart going back to 1986-ish you can see that Campbell's doesn't break the bottom of the upward sloping trendline drawn in red. I'm going to wait just a bit to initiate a position, as we still may see a little more downward movement, but then I shall be a ...
How do you lose $393 million dollars in one quarter?
Step 1. Run social justice ads that don't work in the consumer staples space, and -
Step 2. Spend more money to put the same poor product in refrigerated and other higher-cost space.
How do you make things even worse?
Step 1. Say your profits are going to fall, and instead of being honest -
Step 2. ...
The sky is falling and the ground is the limit but wait for a support or rebound around the 40.00 area.
Wait for the worst. This idea work for swing traders
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NYSE:CPB
