Friday, November 24, 2017

I’m Looking To Add This Food Stock To My Shopping Cart

As you all know, most of the leading food stocks have been under heavy selling pressure as of late. Recently, I have been posting a lot of charts of food and beverage stocks that have been declining into very attractive levels for a long side trade. Now I’m looking at another leading food stock that is nearing a major chart support level. This time I will be waiting for B&G Foods, Inc.(NYSE:BGS) to trade down to the $31.75 level. It should be noted that this chart area was supported in September 2015. In fact, this level was also where a reversal and break-out occurred on the monthly chart. Very often, when major break-out levels are retested it will usually be a major chart support. In my humble opinion, this is where I would expect a major bounce in the shares of BGS stock.

Nicholas Santiago

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