CALM Technical Analysis 🧙Cal-Maine Foods Inc produces and sells shell eggs. Its main market is United States. The company's product portfolio contains nutritionally enhanced, cage-free, organic, and brown eggs. Cal-Maine Foods markets the shell eggs to a diverse group of customers, including grocery-store chains, club stores, and foodservice distributors. The company's brands are: Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain
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CM2 trade ideas
CALM Failed #Breakout #AcendingTriangle #ChartPatternNASDAQ:CALM broke out of the 4+ month ascending triangle chart pattern and close above resistance 4 days in a row before the news shock after the close yesterday. The stock gapped down 5+%, held around the opening print for around 2 hours and gravity took over from there. Remember, anything could happen when you enter the trade. Use stop losses and risk management to minimize damage.
CALM forming 4 months #Ascending #TraingleNASDAQ:CALM is forming a 4 months ascending triangle. Multiple tests of resistance line have taken place. A breakout from this consolidation will lift the price off the 200 moving average and set the tune for the next leg up. There is a considerable resistance around $51 and if cleared, price should reach chart pattern price target identified on the chart.
October 2 Earnings: Cal-Maine Foods: Competition GaloreThe company's efforts to restructure have not come across well so far, trailing its competitors.
Cal-Maine has a long way to go, I believe, to fairly compete with larger players.
I am pessimistic on the company's 3 month prospect and have a $35.00 PT.
Stop set at $45.00 but is flexible up to $50.00.
I believe the company will report lower guidance on Monday.
CALM: Long at market openWe can go long CALM above the Key Earnings level from the last earnings release.
Keep stops under 51, and aim for a 5 daily ATR move.
I like how it has closed the day above said level, I see considerable upside in this stock, and it has an excellent yield and solid fundamentals.
Good luck if taking this trade.
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Cheers,
Ivan Labrie.
CALM: Trading at a major discountThis stock is coming up from a strong base, acting as a bastion of strength in this market.
Dividend investors would be glad to add this to their portfolios here I'm sure, and I wouldn't mind either.
There's a nice techical entry if we're offered with prices inside the green zone in my chart.
There is an abundance of technicals suggesting this is a good buy, so I wouldn't hesitate on reccomending it to anyone.
We have the yearly moving average below price, as well as a great valuation right here, as derived from the PSR readings, which give clues about 'fundamental support' levels in this chart.
I'd reccomend allocating 6-7% of capital in it, based on the volatility, which with a 3.85% yield, and trading at 1 time sales (PSR) -despite the high P/E ratio- makes it an attractive long term entry.
Cheers,
Ivan Labrie.