The company Hormel Foods, engages in the production of meat and food products, tested currently the USD 44.5 resistance.

The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging.

From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the USD 53.18 threshold.

Thanks to these good indicators, it seems relevant to take a long position in Hormel Foods above the resistance at USD 44.5. The target price will be the USD 53.2 resistance. A stop loss could be set under the USD 43.5 threshold because a breakdown of this level would damage technical pattern.