nftrh plus

NFTRH+; The Most Boring Co. in the World Grinding a Trend Change

It’s good old Campbell’s Soup. You grew up with it. I grew up with it. It has headlines like a divestiture of Bolthouse Farms and an entry into the meatless market. But come on, for better or worse it’s Campbell’s Soup. I am using large charts here so click them for the clear view.

The stock is on a new intermediate uptrend with the SMA 50 rising. The gap is not a real concern because it came on volume and put it back on the new uptrend. Still, it could fill. Clear support to the current pullback however, is noted at 39-40. RSI is coming off its former overbought situation.

cpb

The weekly chart shows that the implied target (measured by the bottoming pattern) is right to a notable area of thick resistance. That would be a sell, technically at least. Stop loss is to suit below 38.50.

cpb

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.