This is an add-on to my last campbell long chart because I didn't give enough info. I am not long here. I won't go long here. Because of the macro conditions, I think there may be another buying opportunity lower. If I miss the run from here, no sweat. I'm not riskin' nothing. Let's take a look at the Campbell Soup monthly line chart. No need to get bogged down...
Range bound asset, Near the bottom of the range. Would not mind a small retrace for a more equitable trade TP at the .618 and top of the range. While there is Classic divergence playing out, a small retrace would help make the trade equitable. Would really like the entry if the price went to 45.84.
Watching for entry on a breakout above the .5fib and a retrace support entry at 50. I meant to publish this Friday EOD @47.53 but got sidetracked. Initial Target = 618fib @54 Long-term hodl target = 786fib @60 ____________________________________________ This content is for informational and educational purposes only. This is not in any way, shape or form...
Hormel Foods is an industrial scale grocery supplier. Similar footprint to that of Campbell's $CPB but with a lower OpEx and higher revenues. Notably, the company trades at nearly 3x P/S versus Campbell's which trades at 2x P/S. Both seem like logical, undervalued, consumer staples, though I would see a convergence in this price differential as we come closer...
Recent price volatility says a lot about human behavior, but the long term price chart for Campbell's is relatively lackluster versus others. No doubt consumer staples and essential items are going to get a boost here with upcoming earnings in Mid-may. Worth watching. Post-earnings, I'm looking for $53/share.
When times are tough, we eat more soup? Millennial's wouldn't know about tough times, so $CPB is not on their watch list!
How do you lose $393 million dollars in one quarter? Step 1. Run social justice ads that don't work in the consumer staples space, and - Step 2. Spend more money to put the same poor product in refrigerated and other higher-cost space. How do you make things even worse? Step 1. Say your profits are going to fall, and instead of being honest - Step 2. ...