The high of right shoulder of head-and-shoulder pattern, which was formed in the first half of June 2023 (blue) was re-tested in the second half of June (purple). This second shoulder pattern broke the neckline (yellow) and the downtrend began.
HSY is close to a major support of 216. Price is likely to bounce from this support when RSI, too, would be oversold...
HSY stock has done incredibly well over the past 50 years, essentially in a constant upward trajectory. If you invested 13 years ago, you'd have x10 gains.
That being said, the ABC has completed inside the structure and at some point correction is in order.
While it's impossible to say when it's going to correct, structure like this tend to break to the downside...
THIS IDEA WAS CREATED WITH A LOT OF HOPIUM, DO UR OWN DUE DILIGENCE.
I AM NOT A FINANCIAL ADVISOR. NYSE:HSY
The earnings were better then expected in the last 4 earnings which resulted on average
around 3-5% price increase.
The earnings date is on 27th july, I expect for them to beat the earnings hence the price
could increase as it did in the...
HSY emerged from an 11-month sideway consolidation on 15th March and began a strong uptrend since.
A bull flag is now apparent there could be opportunity to trade the breakup (if it materialises). However, the trend is rather extended at the moment hence it is prudent to trade a smaller size at this juncture.
Disclaimer: Just my 2 cents and not a trade advice....
On this chart, we are witnessing an all time high, with multiple tops.
Therefore we are short on this one and are expecting a run to the downside.
Also the MACD and RSI are both showing bearish indications.
We are ready for an entry, as the multiple tops are completed.
More details are shown on the chart.
Good luck!
The PEAD projected a bullish outlook for $HSY after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 70%.
As a leading manufacturer of chocolate and sugar confectionery in the United States, Hershey Co. is poised to generate significant profits during Valentine's Day with its well-known brands such as Hershey's, Reese's, Twizzlers, and Kit Kat. Despite the recent controversy surrounding the missing "tips" on its Hershey's Kisses, the company's holiday-themed...
Hello dear Traders,
Here is my idea for #HSY
Price closed above yellow line
Targets marked in the chart
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
Please, support my work with like, thank you!❤️
I can't help but clearly see the large
double top formation, and when this
happens my gut tells me not to ignore it
since they tend to have a very high rate
of success playing out correctly, double
tops (M) and double bottoms (W).
Double Tops = downtrend upcoming and
Double Bottom = uptrend upcoming
It looks as if shorting to the target of
$200 - $180 would be a...
Hershey broke up and out of a Cup and Handle pattern.
The Moving Averages are all pointing up and looks good.
There is a retest on the brim level giving this a conservative entry for chart pattern traders.
Target = $271.00
CONCERNS:
With the Interest rate hike of 75 basis points pumping it to 4% with more coming, this could disrupt the upside as it has done with...
The PEAD projected a Bullish outlook for $HSY after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
Consumer staples food products showing relative strength. Hersey Foods Corp showing leadership.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
Noticing some bearish divergence on the RSI. HSY of late seems to be trading in a shape that resembles both an ascending triangle and/or a rising wedge. Due to my inability to tell which pattern it is trading in, I will remain neutral on Hershey at the moment. However, the stock has seen quite a run-up in price (since Covid), so HSY holders now may be an optimal...
