The trade of Hormel Foods Corp

by Jozsef Safar | May 25, 2018 | Closed Positions

Hello everyone! Hormel Foods was a quick opportunity as you see the bull pennant in the chart which was quite a sign for me.

Hormel Foods Corp (HRL: NYSE) 2018.04.11 – 05.24.

Opening price: 35,41 USD
Opening date: 2018.04.11.
Cost of transaction: 0,6%
Closing price: 35,00 USD
Closing date: 2018.05.24.
Result of the trade: -1,75%

Although the bull pennant is a strong sign to take the position, but the potential loss – the bottom of Hormel – was a bit too big. So I set up a stop loss order at the price of 35 but unfortunately the market was thinking otherwise. Sometimes this kind of reaction happens.