Decision point for $HSY
HSY HSY has reached the resistance trend line in its current channel. That doesn't mean it HAS to go down now, it could very well bust through, or chop around just below for a bit. The Stochastic indicator is pegged out at 100 on the monthly, but can easily ride there for months to come. The daily and weekly Stochastic still has room either way. If it gets rejected over the next two days, I will initiate a short position using put options. If it pops above the resistance, I will attempt to play a pullback to test that breakout, then enter long. If neither of these happen convincingly, and it chops around right here at this spot, I will sit on my hands until it chooses a direction. Just good to know when a stock reaches a critical moment so that you can put alerts on the trend line and make your bet. Happy hunting!!
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