Pilgrim's Plays Chicken

Pilgrim's Corporation (PPC) produces and distributes chicken products to customers in 95 countries. The stock is up over 7% in the session and testing the 50% retracement level of its 2010 high and 2011 low. It has been trending higher since touching the bottom of that range in August last year, making a series of higher highs and higher lows.

In October, it moved into its upper Bollinger band range, where it has remained, and in December, the 50-day moving average crossed above the 200-day average. The trend looks solid, but in February 2011, the $8.00 level rejected a five-month move higher, and a golden crossover of the 50- and 200-day averages, and in March this year, after breaking above the 38% retracement level on strong volume, the stock price pulled back and regrouped, before continuing higher....181 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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