Once gain, a big congratulations and tip of the hat to one of the OG’s of “Name That Chart, @StockCats, for correctly guessing the mystery chart from my last post.
As @StockCats noted, the chart was a monthly chart of The Hershey Company.
Specifically, here is what @StockCats had to say:
OK, it’s definitely HSY The Hershey Company – the sector is listed as Consumer Goods but we all know they make candy. A pullback to the low to mid 90′s is probably buyable as there is no reason to assume the uptrend is broken unless we see it is.
Pardon me for breaking my own rule earlier “one does not simply guess at name that chart”. It won’t happen again.
…actually in the past a few posters that “guessed” helped lead me to the correct answer. Chess, in his diabolical wisdom usually ties the chart to “a theme” of some sort. My “guess” is this time it’s Easter.
My take: After a steep uptrend the company is vulnerable to weakness, especially if soft commodity input prices like sugar and cocoa continue to rise this year.
What do you think?
Earnings are scheduled for April 24th.
Thank you to everyone who played.
I will be back after midnight with ideas for Monday.
But I already gave tight analysis in my latest Weekly Strategy Session published, earlier today. Check it out!
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Vulnerable to a pullback? Yes, definitely. But it looks like that uptrend is intact as long as it holds the 20-week moving average, hence my comment.
Now that March Madness is over maybe RC can update the IBC SOTY spreadsheet. I’d like to see where I stand there too.
Cat Daddy, I think it updates itself. You’re moving up! https://docs.google.com/spreadsheet/pub?key=0As7bw_6oz7iJcGdPNGdSMTJUSENuQUQ3aU5FR3dYUnc&single=true&gid=10&output=html
Posted under the influence. You’re right, those prices are out of date.