Everybody Eats So…..

• Posted by Greg Harmon
• on May 22nd, 2014

Conagra, $CAG, crept onto the radar this past weekend and is consolidating nicely ahead of a possible breakout. The chart below shows the tapping against resistance at 31.65 and near the 200 day SMA. The RSI is rising and

in the bullish zone while the MACD is rising and investors are accumulating the stock. The Measured Move higher takes it to about 34 on the broad scale and 33 on the shorter scale. And a move to those levels would break the downtrending resistance on the weekly chart as well. Maybe this is a good longer term hold as well.

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