Not As Spicy:

The food product names have seen their fair share of winners on a YTD basis. Some have produced tasty returns, pun intended. CALM is up better than 50% in 2022 as it carves out a 59.01 cup with handle pivot in a base that started in early April with a rejection at the round 60 number. ADM is higher by 31% this year so far and has recorded a nice run since a bounce off the 70 area precisely on 7/14. Monday acted powerfully up 3%. Of course, others have lagged most notably BYND which has lost nearly three-quarters of its value in the last 9 months. HAIN and HLF have both surrendered losses in the 50% neighborhood this year so far. Below is the chart of another laggard in MKC. The stock is back to levels off Q4 2021 and nearing the COVID lows as well. It recently recorded a bearish three black crows pattern for the 3 weeks ending between 8/26-9/9 falling by a combined 14%. It REPORTS on 10/6 before the open and notice it has declined 9 of the last 17 times after REPORTING earnings. Look to short this name with a break below the bear flag pivot of 77.50.

This article requires a Chartsmarter membership. Please click here to join.