NEW BULLISH Plays
Hormel Foods - HRL - close: 44.11 change: +0.56
Stop Loss: 42.75
Current Gain/Loss: unopened
Entry on October -- at $--.--
Listed on October 29, 2013
Time Frame: 3 to 5 weeks
Average Daily Volume = 558 thousand
New Positions: Yes, see below
Why We Like It:
HRL is in the consumer goods sector. The company makes meat and food products. They are probably best known in the U.S. for their Hormel and Jennie-O brands. The stock has been rebounding from its early October lows. Over the last four weeks HRL has rallied toward its all-time highs set in mid-September (the market's post FOMC meeting peak).
The September 19th peak was $44.22. I am suggesting a trigger to open bullish positions at $44.40. If triggered our target is $48.00. However, we will plan to exit prior to the late November earnings report.
Trigger @ 44.40
Suggested Position: buy HRL stock @ (trigger)