Maple Leaf Foods Inc. trending towards bullish status

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Bullish on Maple Leaf Foods Inc.

declined from $35.82 in August, 2019, to $17.04 in March, 2020 , had a recovery rally to $30.77 and then settled in a large triangle pattern made up of lower highs and higher lows .

The stock had a sudden move on positive news in early November and rallied to $31.75 , but subsequently it retraced this rise to provide a good entry point. A rise above $30 would suggest the resumption of the up-trend. Behaviour indicators including the rising 40wMA and the rising trend-line confirm the bullish status. There is good support at $27.50-$28.00; only a sustained decline below this level would be negative.

Point & Figure measurements provide targets of $32 and $35. The large triangle pattern supports higher targets.

 

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Absolutely disgusting food —if you can even call it that 🤮

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