I ran some scans this morning looking for some new breakouts to 1-year highs. With the market pushing up for the last month, these food companies are starting to accelerate.
First, Archer Daniels Midland is breaking out to new three year highs.
Pinnacle Foods is breaking out above prior year highs.
Nomad Foods (NOMD) has a nice chart that looks like it is starting to reaccelerate.
If you are looking to diversify into the unloved Consumer Staples sector, these names have nice setups.
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Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis.
Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter.
He is also the author of Stock Charts for Dummies (Wiley, 2018).