Soup Lines:

As recession fears persist and we hear the routine armageddon chatter from the dooms dayers one certain stock comes to mind. Campbell’s soup. We will not predict what will happen with the economy as I am a pure chartist, and believe they tell the authentic story, with the old adage “stocks don’t lie, people do.” Below is the MONTHLY chart of the name and it is up against a familiar foe with the very round 50 number. Since March 2020 it has been above the figure for five months but ZERO has CLOSED above 50, with August finishing just one penny shy of it at 49.99. Give the name credit as it is higher on both a YTD and one-year period and sports dividend yield of 3%. In my opinion, a CLOSE above 50 on Halloween (Monday this year) bodes well for the name which potentially could see it travel toward the mid-60s which were all-time highs back in 2016 sometimes in 2023. It is always important to have peers within your group (food products here) acting well as you do not want to be the one solely doing the heavy lifting, and that can be said of names like GIS, K, and SJM.

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