Don't Ignore This Chart!

Chocolate Always Looks Great! Hershey Hits New Highs

 | 

As we head into Valentine's day, Hershey's breaks out. It has had a smooth climb for a while now.

This is part of Consumer Staples. As a defensive sector, we can see the growth in the stock price since the October lows. This is a good example of acceleration into the defensive sectors as investors look for stability from the commodities instability. However, since Cocoa topped out, Hershey's has soared! The SCTR has just moved above the 75 level which is usually bullish. The volume that accompanied the breakout is excellent. Good Loving!

Good trading,
Greg Schnell, CMT

Greg Schnell
About the author: , 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 an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus