Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries What Do the Charts Say About Hershey Co.? By: StockNews.com November 11, 2021 at 04:47 AM EST A resistance line has formed in the chart of Hershey Co. (HSY). If the stock breaks through this level, a breakout could occur. Read more if you would like to learn how to take advantage of this trade.Hershey Co. (HSY) is a leading confectionery manufacturer in the U.S, controlling around 46% of the domestic chocolate space. Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 90 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers.The company has been benefiting from a recovery in consumption in the U.S. and international markets. In fact, consumption has been elevated both away from home and at home. HSY’s focus on acquisitions to expand its portfolio also bodes well. In its most recent reported results, earnings surpassed estimates and sales jumped year over year.HSY has a current ratio of 1.4, which indicates it has more than enough liquidity to handle short-term obligations. This has led to a Quality Grade of A in our POWR Ratings system. The company has a steady history of growth with earnings rising an average of 12.8% over the past five years. Analysts expect earnings to rise 12.7% for this year as well.The stock looks a bit overvalued, though, with a trailing P/E of 25.46 and a forward P/E of 23.81. HSY was showing bullish momentum from March to July. However, performance has been mixed since as shown in the chart below.Take a look at the 1-year chart of HSY below with added notations:Chart of HSY provided by TradingViewHSY has been in a steady trend higher since March but has recently struggled to get past the $182.50 level (blue). That mark has been tested as resistance multiple times over the past few months. Now that HSY has turned higher, the stock could be set to hit new highs in the coming weeks.Click Here to Read the Greatest Trading Book Ever WrittenThe ideal long position on the stock would be on a breakout above the $182.50 resistance level, with a protective stop placed below the entry point.Want to Discover More Great Trades?What is better than finding the 1 attractive stock in this article?Discovering 5 timely trades...like the ones in this new special report. Click below to claim your free copy now!5 Stocks Ready to BREAKOUT!HSY shares were trading at $178.50 per share on Thursday morning, down $1.06 (-0.59%). Year-to-date, HSY has gained 18.96%, versus a 25.54% rise in the benchmark S&P 500 index during the same period.About the Author: Christian TharpI am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group and Yolo Publishing.More...The post What Do the Charts Say About Hershey Co.? appeared first on StockNews.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
What Do the Charts Say About Hershey Co.? By: StockNews.com November 11, 2021 at 04:47 AM EST A resistance line has formed in the chart of Hershey Co. (HSY). If the stock breaks through this level, a breakout could occur. Read more if you would like to learn how to take advantage of this trade.Hershey Co. (HSY) is a leading confectionery manufacturer in the U.S, controlling around 46% of the domestic chocolate space. Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 90 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers.The company has been benefiting from a recovery in consumption in the U.S. and international markets. In fact, consumption has been elevated both away from home and at home. HSY’s focus on acquisitions to expand its portfolio also bodes well. In its most recent reported results, earnings surpassed estimates and sales jumped year over year.HSY has a current ratio of 1.4, which indicates it has more than enough liquidity to handle short-term obligations. This has led to a Quality Grade of A in our POWR Ratings system. The company has a steady history of growth with earnings rising an average of 12.8% over the past five years. Analysts expect earnings to rise 12.7% for this year as well.The stock looks a bit overvalued, though, with a trailing P/E of 25.46 and a forward P/E of 23.81. HSY was showing bullish momentum from March to July. However, performance has been mixed since as shown in the chart below.Take a look at the 1-year chart of HSY below with added notations:Chart of HSY provided by TradingViewHSY has been in a steady trend higher since March but has recently struggled to get past the $182.50 level (blue). That mark has been tested as resistance multiple times over the past few months. Now that HSY has turned higher, the stock could be set to hit new highs in the coming weeks.Click Here to Read the Greatest Trading Book Ever WrittenThe ideal long position on the stock would be on a breakout above the $182.50 resistance level, with a protective stop placed below the entry point.Want to Discover More Great Trades?What is better than finding the 1 attractive stock in this article?Discovering 5 timely trades...like the ones in this new special report. Click below to claim your free copy now!5 Stocks Ready to BREAKOUT!HSY shares were trading at $178.50 per share on Thursday morning, down $1.06 (-0.59%). Year-to-date, HSY has gained 18.96%, versus a 25.54% rise in the benchmark S&P 500 index during the same period.About the Author: Christian TharpI am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group and Yolo Publishing.More...The post What Do the Charts Say About Hershey Co.? appeared first on StockNews.com