Hershey Plummets Below $200, Marking Its Steepest Decline In Nearly Two Years Amid Market Uncertainty
Portfolio Pulse from Zaheer Anwari
Hershey Co.'s stock (NYSE:HSY) has experienced a significant decline, falling below the $200 level, marking its steepest decline in nearly two years. The stock was on an upward trend with a 20% increase until May but is now down 15% for the year. The breach of the $200 support level has raised concerns among investors. However, the weekly 200 simple moving average, a technical indicator, could potentially support the stock price as it has done in the past.
October 09, 2023 | 2:02 pm
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Hershey's stock has fallen below the $200 level, marking a significant decline. The stock is down 15% for the year. However, the weekly 200 simple moving average could potentially support the stock price.
The stock has fallen below a significant psychological level of $200, which could potentially lead to further declines. However, the weekly 200 simple moving average has historically supported the stock price during challenging times, which could potentially provide a safety net for the stock.
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