The Hershey Company (HSY) is forever to chocolate bars and holidays like Halloween, Valentine's Day and Mother's Day. So, let's check out the charts of HSY ahead of Halloween and their next earnings release on November 4.
In the daily bar chart of HSY, below, we can see that the shares have been trading higher the past 12 months. HSY trades above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line has moved sideways since April and a new high would be welcomed to help confirm the price gains. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In the weekly Japanese candlestick chart of HSY, below, we can see a two-year uptrend in place. Prices trade above the rising 40-week moving average line.
The weekly OBV line has been in a long-term bullish rise. The MACD oscillator is above the zero line and poised to cross to the upside for a new outright buy signal.
In this daily Point and Figure chart of HSY, below, we can see an upside price target in the $262 area.
In this second Point and Figure chart of HSY, below, we used weekly price data. Here the chart points to a $262 price target like the daily chart above.
Bottom-line strategy: Traders could go long HSY at current levels risking to $225. Add on strength. The $262 area is our price target. If you are not interested in the stock I would still look at the long side of chocolate in any shape or form -- it's all good.
