Friday, December 4, 2015

Hormel Foods - Chart of the Day

Hormel Foods (HRL) is the Barchart Chart of the Day.  The meat products company has a Trend Spotter buy signal, a Weighted Alpha of 56.00+ and gained 46.91% in the last year.

The Chart of the Day belongs to Hormel Foods (HRL).  I found the meat products stock by using Barchart to sort the Russell 3000 Index stocks first for the highest number of new highs in the last month, then I reviewed the chart using the Flipchart feature.  Since the Trend Spotter signaled a buy on 8/28 the stock gained 25.59%.

Hormel Foods Corporation is a multinational manufacturer and marketer of consumer-branded meat and food products, many of which are among the best known and trusted in the food industry. Products manufactured by the corporation include hams, bacon, sausages, franks, canned luncheon meats, stews, chilies, hash, meat spreads, shelf-stable microwaveable entrees, salsas and frozen processed foods. These selections are sold to retail, food service and wholesale operations under many well-established trademarks.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 14.74% in the last month
  • Relative Strength Index 82.39%
  • Barchart computes a technical support level at 74.34
  • Recently traded at 77.33 with a 50 day moving average of 67.62
Fundamental factors:
  • Market Cap $20.45 billion
  • P/E 28.38
  • Dividend yield 1.32%
  • Revenue expected to grow 4.00% this year and another 4.40% next year
  • Earnings estimated to increase 10.60% this year, an additional 7.50% next year and continue to increase at an annual rate of 18.00% of the next 5 years
  • Wall Street analysts issued 2 buy and 6 hold recommendations on the stock
The 20-100 Day MACD Oscillator has been a reliable technical trading strategy for this stock.

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