The bullish DailyPlay for Thursday, July 30th is Conagra Brands (CAG). CAG has experienced a 11.66% rally over the past month and its 1M and 6m trend turned bullish on June 29th and just broke out above its $37 resistance level with strong relative strength.
- Strong demand for packaged and frozen foods drive 34% growth in EBITDA in 2020
- Debt reduction of $725m this quarter while trading at a lower multiple to peers
- Earnings: Sept 24th (57 Days)
- Breakout above $37 extends targets to new all-time highs
- Both 1M and 6M trends are bullish
- Very strong relative strength, technical score (9 out of 10)