OptionsPlay DailyPlay

The bearish DailyPlay for Wednesday, June 24th is Hershey Company (HSY). HSY has rallied 1.98% in the last month and its 1M and 6M trends turned bearish on June 11th as COVID-19 continues to pressure margins and is expected to have a negative impact on Halloween, a key season for HSY. 

Fundamental View

  • Slower consumer spending in key summer through Halloween months.
  • Lower confectionary sales as discretionary income fall globally.
  • Earnings July 23 (30 days)

Technical View

  • Bearish triangle w/ support @ $128 provides a potential bearish breakdown
  • Neutral and declining relative strength score (5 out of 10)
  • Both 1M and 6M trends are bearish
 

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