HSY has been under pressure for the last 3 months since it put in the mega monthly reversal candle. This is a clinical retrace and backtest of a key upsloping trend line and monthly bullish reversal.
It was good to see Hershey remaining strong and closing positive while markets were under pressure.
Typically seasonal periods get from run by investors. Most people aren't thinking about Halloween but smart money will be.
Humans also consume roughly 300-500 more calories a day in the summer as we're more active being outside. Some of those calories are often sweets that Hershey makes.
Fiod for thought...I'm bullish over the nect 3-6momths now that the dividend selling is complete.
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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.