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