28/05/15 – HRL NYSE – This trade has been very complex and after a pull back from a new Wave 5 high at the beginning of this week , the stock price gapped up at the beginning of yesterday’s session and allowed me to time stop this trade and take 1.6% profit on my trading account balance. A decent profit for a slow but profitable month. Chart as below.
05/05/15 – HRL NYSE – Another of my Buy Orders to trigger in yesterday’s session. A strong positive move out of the recent range bound zone to cross and close above the 6/4 MA High line is a good breakout signal but will need confirmation today with a higher high and a higher low. Chart as Below.
02/05/15 – HRL NYSE – The Wave 4 pull back for this stock has been extremely complex but has found support at the Fibonacci 0.5 Level and has been range bound at level for 7 trading days. This contraction period has to end with a move up or down and my wave 5 strategy leads me to setup for a Long Position. Friday’s price was positive and closed near the daily high just below the 6/4 MA High line. Although there are only 6/9 indicators in the green at the moment I am setting up this trade conservatively to cross the 6/4 MA High way before entry to give 7/9 before trigger. Also worth noting is the MACD Histogram profile is tending towards zero and the signal lines looks close to crossing which is a good sign for a reversal to a Bullish move. My entry is conservative above the Fibonacci 0.382 retracement level and above the high of the B pivot during the Wave 3 in November 2014. Stop Buy Order @ 55.62 with the Stop Loss @ 53.98 and the initial Take Profit Limit Order @ 59.50 giving a Risk to Reward profile over 1:2. The initial target is taken from the B pivot during the Wave 4 and a secondary target from the Wave 4 is at 61.00. Charts as Below for the Setup of this potential Long Position on the HRL NYSE Stock.