Pilgrim’s Pride delivered strong Q3 earnings, with EPS beating estimates by +8.83% and revenue slightly above expectations.
Fundamentally, the company continues to demonstrate resilience in a defensive sector, while technically, the chart is showing an interesting setup for swing traders.
The price has now reached a major buy zone, an area that acted as a strong support during previous market cycles.
Momentum indicators are both turning from oversold levels, signaling a potential bullish reversal. "The Wave" indicator is flashing too.
I’ve identified a clear buy zone between $36–$38, with a stop-loss area below $33, and a first take-profit target around $55–$57, corresponding to the previous resistance range.
That’s a risk/reward ratio of roughly 1:5, ideal for mid-term swing positioning.
Earnings confirmation combined with this technical structure makes
PPC one of the most interesting setups on my watchlist this week.
#investing #trading #trader #stocks
Fundamentally, the company continues to demonstrate resilience in a defensive sector, while technically, the chart is showing an interesting setup for swing traders.
The price has now reached a major buy zone, an area that acted as a strong support during previous market cycles.
Momentum indicators are both turning from oversold levels, signaling a potential bullish reversal. "The Wave" indicator is flashing too.
I’ve identified a clear buy zone between $36–$38, with a stop-loss area below $33, and a first take-profit target around $55–$57, corresponding to the previous resistance range.
That’s a risk/reward ratio of roughly 1:5, ideal for mid-term swing positioning.
Earnings confirmation combined with this technical structure makes
PPC one of the most interesting setups on my watchlist this week.#investing #trading #trader #stocks
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.