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Wednesday, February 21, 2024

Hormel Foods Corporation (HRL) Stock Forecasts

Hormel Foods Corporation (HRL) Stock Forecasts


Insiders continue to pursue a reverse version of capitulation, refusing to acquire shares because many others have done just that. Indeed, while asset managers who have shunned stocks in 2023 are scrambling at the end of the year to inject winning stocks into their portfolios, insiders, who have talked about market pivots convincingly throughout year, remained on the sidelines during the end-of-year rally. But it is important to note that the lack of interest from management, directors and beneficial owners has still not progressed beyond the “ho hum” phase. So even though Vickers Stock Research’s short-term (one week) internal sentiment indicators are bearish for a third week, the degree of pessimism is nowhere near the levels needed to drive the broader sentiment indicators (eight weeks) towards readings that give rise to concern. Current insider sentiment suggests the shares may be a little “on top of their skis” but are unlikely to crash on landing.

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