HSY (Hershey Foods Corp) will be added as a Active Short Trade here around the 93.85 level. HSY recent broke below this 5+ year bull market primary uptrend line with strong bearish divergences in place before the breakdown (weekly chart). HSY bounced on Friday & opened just below the bottom of last Wednesday’s gap today (see daily chart) which offers an objective short entry as that gap will likely act as resistance. For more conservative traders not willing to short until clear evidence of a trend reversal in the broad markets (which I think we will soon get), alternative short entries on HSY might also be made on any bounce back towards the 96 area (resistance) or a break below the 90.25ish area (support)… see daily chart below for both those levels/scenarios.

This trade is based primary off of the weekly time frame & should be considered a longer-term swing trade. Targets are listed on the weekly chart below with suggested stops using an R/R of 3:1 or better based on one’s preferred target and average entry price. Daily & weekly charts below.     Click here to view the live, annotated chart of HSY