HRL has formed a large descending triangle and a potential double bottom formation. Given the upside momentum, there is a strong chance of HRL trending higher after breaking above the descending triangle. Long-term MACD is looking at a strong long-term bullish momentum after the MACD/signal line is rising and histogram is positive.
Stochastic has been rising and is in a steady state, indicating strong bullish momentum in the mid-term.
23-period ROC is rising and staying above the zero line. Directional movement index is strong bullish.
Prices just closed above the kumo of the ichimoku, making the signal a strong bullish signal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.