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Swing Trade Idea (HSY) – June 24, 2022

Our bullish trade for Friday, June 24th is The Hershey Company (HSY). HSY is part of the Consumer Staples sector, which has performed at 2.64% over the last week, with HSY’s performance over the same period at 5.78%.

HSY recently broke above a key level of $213, as strength is increasing. We, therefore, expect this level to hold as support with further upside in sight. This provides a good risk/reward bullish entry. 

As a close, if HSY were to trade below $213 for multiple days, this would invalidate our analysis and we would consider cutting losses on the trade. We also want to consider cutting losses on this options trade if the value of the vertical spread moves below $2.56.