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ThecoinrepublicStockHershey Co.(NYSE: HSY): Will HSY Stock Sustain...
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Hershey Co.(NYSE: HSY): Will HSY Stock Sustain Above $200 Mark?

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Hershey Co. HSY stock has been declining through an interesting pattern since May 2023 over the daily time frame chart. Now, buyers need to accumulate at a higher rate in order to push HSY shares upwards. However, sellers have been trying to pull HSY downwards and are now trying to drag the HSY share price below the $200 mark. Meanwhile, buyers must accumulate to save HSY shares from falling below the $200 price level.

HSY stock has been trying to leave the declining pattern but failed to sustain at the upper trendline. Volume change is under the influence of sellers which emphasizes the decline of HSY shares through the descending parallel channel over the daily time frame chart.

HSY stock price was $205.20 and lost 0.37% of its market capitalization during Tuesday’s trading session. Trading volume is below average and needs to grow in favor of buyers during Wednesday’s trading session which demonstrates the buyers’ need to accumulate at a higher rate in order to push HSY shares upwards. 

Will HSY Stock Sustain or Get Detained? 

Source: NYSE: HSY by TradingView

Hershey stock price has been slipping through a descending parallel channel over the daily time frame chart. Sellers have been pulling HSY shares downwards from the $275 mark through the falling parallel channel. However, buyers need to accumulate at a higher rate in order to push HSY out of the parallel channel. Meanwhile, HSY shares slipped below 20, 50, 100 and 200-days daily moving averages.

HSY stock declined by 3.36% in a week and by 4.62% in a month. Also, HSY share price slipped by 20.49% in the last three months and 18.47% in the last six months. HSY shares declined by around 10.95% year to date.

Technical indicators showcase the downtrend on the HSY stock chart. Relative strength index (RSI) shows the downward momentum of HSY shares. However, moving average convergence divergence (MACD) indicates the slippage of HSY.

RSI was at 31 and is heading towards the oversold territory. The MACD line is moving towards the signal line for a negative crossover. Investors in Hershey Co. (NYSE: HSY) need to wait for any directional change over the daily time frame chart. 

Summary

Hershey Co. HSY stock has been declining through an interesting pattern since May 2023 over the daily time frame chart. Volume change highlights seller presence which signifies the decline of HSY shares through the descending parallel channel over the daily time frame chart. Technical indicators showcase the downtrend of HSY shares. Investors in Hershey Co. (NYSE: HSY) need to wait for any directional change over the daily time frame chart. 

Technical Levels

Support Levels: $202.70 and $201.45

Resistance Levels: $208.35 and $212.75

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ritika Sharma
Ritika Sharma
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
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