OptionsPlay DailyPlay

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. 

Fundamental View

  • 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)

Technical View

  • 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)

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