Soup Season? Campbell Soup Stock Trade Setup
Campbell Soup $CPB is typically a slow stock and not one I would consider to be a great candidate for a short term trade, however the chart setup is compelling enough to take a closer look. The chart below shows 3 timeframes: Weekly, Daily and intraday.
Weekly- Clear uptrend with prices above the 10, 20 and 40 week (50, 100 and 200 day) moving averages.
Daily- Uptrend with recent consolidation just below resistance of 3545
10 Minute- above the rising 5 day moving average and has traced out an inverted head and shoulders pattern. A move above 35.45 should pave the way for a move up towards 36.50 and a reasonable stop level would be just belo the higher low and basis of the right shoulder at 35.00.