The Hershey Company

  • HSY

  • $194

  • +0.45%

  • $192

  • $194

  • $192

Ticker Appearances

Mon, March 4, 2024 | 1:55PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Mon, March 4, 2024 | 1:55PM ET
To those investors who utilize Technical analysis, Hershey exhibited its first real evidence of trend failure last July when it violated long-term trendline support near $231. It's fallen over 34% since last Spring( Peaked in May 2023) but remains difficult to argue that this is officially bottoming out despite recent stabilization. December 2023 lows at $178.82 are important for HSY 0.45% , which bottomed near the 38.2% Fibonacci area of support of the runup since 2009 lows. Under this level argues for a pullback to 158-160, near the 50% retracement level and this level also successfully marked former peaks at 2019 and 2020, which have importance as an area of support for Hershey
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