Campbell Soup Is Stirring Up a Bottom

Campbell Soup (CPB) has slowly corrected about two-thirds of its November to February rally. Prices are trying to make a higher low and a higher high to start a fresh uptrend. CPB is testing the declining 50-day and 200-day moving average lines, which is a start, but there are more clues.

In this daily bar chart of CPB, below, we can see the position of the moving averages mentioned above. The daily On-Balance-Volume (OBV) line has been moving up since early April and the Moving Average Convergence Divergence (MACD) oscillator crossed last month to a cover shorts buy signal. Further price strength could push the MACD oscillator above the zero line....104 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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