Tom Ronk Says Buy Cal-Maine Foods (NASDAQ: CALM)
PATTERN SCAN predicts the price of CALM
expected to move up in the coming weeks based on
the appearance of a ‘Trend Line Break(2)’ pattern.
Specifically, a IEOD Breakout (ARM4) (+1)
variant of Trend Line Break(2) has been detected.
The target is $56.24.
·
GATS predicts CALM will move up in the coming
weeks. Target is $54.00.
·
SQUEEZETRIGGER predicts that when CALM
closes above $45.52, we expect a short squeeze to
begin that could quickly drive the price of CALM
considerably higher.
·
VALUATION CALM has a current value of
$117.76 which means the stock is undervalued
compared to its Price of $52.4.
CAL-MAINE FOODS closed down -0.380 at 50.120. Volume was 23% above average (neutral) and Bollinger Bands were 22% narrower than normal.
Open High Low Close Volume___
50.570 50.600 49.400 50.120 1,058,947
Technical Outlook
Short Term: Neutral
Intermediate Term: Turning Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 51.27 50.13 52.62
Volatility: 25 46 51
Volume: 757,556 786,851 862,629
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
CAL-MAINE FOODS is currently 4.8% below its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of CALM.O at a relatively equal pace (neutral turning bullish). Our trend forecasting oscillators are currently bullish on CALM.O and have had this outlook for the last 0 periods.
Cal-Maine Foods, Inc., incorporated on September 10, 1969, is a producer and marketer of shell eggs in the United States. The Company’s primary business is the production, grading, packaging, marketing and distribution of shell eggs. The Company sells its shell eggs in the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. The Company markets its shell eggs through its distribution network to a group of customers, including national and regional grocery store chains, club stores, foodservice distributors and egg product consumers. Some of its sales are completed through co-pack agreements. It has a total flock of approximately 33.7 million layers and 8.4 million pullets and breeders. The Company markets its specialty shell eggs under brands, such as Egg-Land’s Best, Land O’ Lakes, Farmhouse and 4-Grain. The Company also produces, markets and distributes private label specialty shell eggs to several customers.
The Company is a member of the Egg-Land’s Best, Inc. (EB) cooperative and produces, markets and distributes Egg-Land’s Best and Land O’ Lakes branded eggs, along with its associated joint ventures, under license agreements for a number of states in the southeast, south central, and southwest United States, as well as the New York City area. The Company markets cage free eggs under its trademarked Farmhouse brand and distributed them across the southeast and southwest regions of the United States. The Company markets organic, all natural, cage-free, vegetarian and omega-3 eggs under its 4-Grain brand. As of May 30, 2015, specialty shell eggs and co-pack specialty shell eggs represented 27.2% and 2.8% of its shell egg dollar sales, respectively, and accounted for approximately 19.8% and 2%, respectively, of its total shell egg dozen volumes. As of May 30, 2015, the Company sold approximately 1,063.1 million dozen shell eggs.
The Company hatches chicks, grows and maintains flocks of pullets, layers, and breeders, manufactures feed, and produces, processes, packages and distributes shell eggs. The Company produces approximately 75% of its total shell eggs sold, with 94% of such production coming from Company-owned facilities, and the other 6% coming from contract producers. The Company purchases approximately 25% of the total shell eggs the Company sells from outside producers. The Company owns breeder and hatchery facilities producing 18.5 million pullet chicks per year in a computer-controlled environment.
The post Tom Ronk Says Buy Cal-Maine Foods (NASDAQ: CALM) appeared first on Live Trading News.