Jim Cramer will be watching Thursday's earnings report from Hormel Foods Corp. (HRL) which also holds an analyst meeting. Cramer said on his Mad Money program Friday night that he'd buy Hormel ahead of this meeting.
In this daily bar chart of HRL, below, we can see a mixed picture for the interplay of price and indicators. Prices have been creeping up from a low in May and HRL is above the rising 50-day moving average line. HRL is also above the 200-day line but the slope of that longer-term measure of trend is still negative.
The daily On-Balance-Volume (OBV) line was flat from May to August and only recently began to improve modestly, telling us that buyers of HRL are only modestly aggressive.
The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but not by much.
In this weekly bar chart of HRL, below, we see a more positive-looking chart and combination of indicators. Here prices have been in an uptrend from 2017. After a correction prices are back above the flat 40-week moving average line.
The weekly OBV line has moved up strongly the past three months or so signaling a shift to more aggressive buying by investors.
The MACD oscillator has crossed back above the zero line for an outright go long signal on this longer time frame.
In this Point and Figure chart of HRL, below, we can see that the software is projecting a nearby price target of $45.73. Not very impressive but it will be a new high for the move up and should refresh the uptrend.
Bottom line strategy: Aggressive traders could go long HRL on strength if they risk a close below $42. 
