The CAG (Conagra Brands Inc) Swing Trade + Growth & Income Trade has hit the first & final price target for a 16% profit. Depending on your trading plan, consider booking partial or full profits and/or raising stops if holding out for any of the additional potential targets. Previous & updated daily charts below.
CAG daily April 17th
CAG daily April 30th
CAG daily Aug 18th
CAG daily Aug 19th
Note: The 16% gain includes both the $0.35 dividend already paid on June 3rd (to shareholders of record on April 30th, shortly after the entry/breakout) and the upcoming dividend of $0.175, which will be paid out on Sept 2nd to those holding the stock on the last record date of July 30th, even if the stock is sold today.
T1 was revised from the initial of four price targets to the final official target yesterday, for the reasons stated in that post. The former T2 – T4 are still potential targets that have a decent chance of being hit in the coming months+, especially if the stock market goes on to make new highs. However, as T1 is the final official target, I believe the odds for a meaningful reaction here at the intersecting price & 200-day MA resistance levels are elevated enough to warrant booking profits or at least tightening up stops, and waiting for the next objective entry, ideally on either a pullback to support and/or a solid breakout above both the 200-day MA’s & the primary downtrend line on the chart above.