Campbell’s Soup (CPB)
By Thu, Sep 2, 2021
Today’s Chart of the Week trade comes from our Follow the Flow Report.
This report specifically scans for unusual options activity with extremely specific, large directional bets not being hedged with another trade.
This trade reveals opportunities that otherwise could easily be overlooked.
This week, the report’s big winner is Campbell’s Soup (CPB).
When we look closely at the chart, this stock looks like a wreck.
Factor in the rising costs of steel, aluminum, and metals, and Cambell’s finds itself facing lower and lower profits.
We are SELLING CPB if it is below 40.
To be clear, above $40 per share, we are out.
But below $40, we are short with a target of $32.50.
Low risk, high reward as always.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
