Chart of the week
Date: 02/01/2010
Symbol: HRL
Company Profile: Hormel Foods Corporation, together with its subsidiaries, produces and markets various meat and food products in the United States and Internationally. It offers meat products, including fresh, frozen, cured, smoked, cooked, and canned meat.
Sector: Consumer Goods
Industry: Meat Products
TRADING PLAN
Entry price: long above: 39.00
Stop price: stop under: 38.50
Target: 40 - open
Chart explanation: HRL look like “own way” chart and there was no reaction on market weakness. It stayed in daily triangle and I will look for breakout setup above 39.00 Depends on breakout pace and volume I will decide if can turn to more then $40 what is initial target area
If anyone have any question or need update feel contact me over email or in the live trading room.
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
Date: 02/01/2010
Symbol: HRL
Company Profile: Hormel Foods Corporation, together with its subsidiaries, produces and markets various meat and food products in the United States and Internationally. It offers meat products, including fresh, frozen, cured, smoked, cooked, and canned meat.
Sector: Consumer Goods
Industry: Meat Products
TRADING PLAN
Entry price: long above: 39.00
Stop price: stop under: 38.50
Target: 40 - open
Chart explanation: HRL look like “own way” chart and there was no reaction on market weakness. It stayed in daily triangle and I will look for breakout setup above 39.00 Depends on breakout pace and volume I will decide if can turn to more then $40 what is initial target area
If anyone have any question or need update feel contact me over email or in the live trading room.
Wish you all good trading!!!
Kind regards
Ivica
http://www.ivicatradingcharts.com/
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