Why I am Bullish on Conagra Foods

16 lis 2013The first indicator was between August 15 and September 15, where you can see the MACD histogram made higher lows indicating a change in the price trend of the stock. Furthermore, on October 1st the MACD line crossed the signal line indicating a shift from bearish momentum to bullish momentum. On October 21st the relative strength line crossed the 50 pivot, while at the same time it continued to make higher lows and still is, both of which are strong bullish indicators. On Nov 1st, the candle broke through the bottom resistance of the Ichimoku cloud and now the stock is trading inside. You can see at the end of the chart how Senkou A crosses Senkou B and is now trading above it, which is just further bullish evidence and indicates this stock is going to continue its upward trend.