Neither Manti T’eo’s Girlfriend or Organic Food Stocks are Dead
- Posted by Greg Harmon
- on January 16th, 2013
Just like Notre Dame Linebacker Manti T’eo’s girlfriend Lennay Kekua, the organic and natural foods stocks were thought to be dead. Turns out though that she has not died, and a look at the chart of some of those food stocks are looking like they might be showing signs of life. Coincidence? Take a look.
The Fresh Market, $TFM
The Fresh Market, $TFM, has been falling in a channel since it reported earnings November 28th. But a look at the Relative Strength Index (RSI) and Moving Average Convergence Divergence histogram (MACD) shows that they are diverging higher now. This as the price is at the top of the channel. A break above the channel would seal a turn around and a move over 50 shows very good health.
Whole Foods Market, $WFM
Whole Foods Market, $WFM, is finding support at the bottom of a symmetrical triangle as the price heads into the apex. The RSI is trying to break back over the mid line and the MACD is about to cross to positive. not as healthy as The Fresh Market but the series of higher lows is a positive sign and should $TFM continue higher this is one to watch.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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