United

Resistance

Million

<ul class="list-ic vertical">
 <li><span>1</span> <a>HSY stock price has shown selling pressure in the past trading sessions.</a></li>
 <li><span>2</span> <a>Buyers are losing gains.</a></li>
</ul>
<p>The Hershey Company (NYSE: HSY) HSY share continues to show a selloff and persisted in losing the gains. Moreover, the HSY stock did not signal any pause and suggests that follow-on selling will continue and the downtrend may resume amid the adverse market sentiment. However, the HSY share price made a doji candlestick over the last three sessions pausing ahead of the Q3 earnings results.</p>
<p>HSY stock is below the significant moving averages and is in the bearish trajectory. Moreover, the chart shows that HSY stock price exit the demand zone of $200 which highlights the presence of aggressive sellers. Per the options chain, at the strike price is $195, a massive open interest of 1059 hundred shares on the put side, whereas there are 890 hundred shares on the call side. Essentially, the long positions are trapped and long unwinding will lead to further selloff.</p>
<p>At press time, HSY share price was $191.58 with an intraday gain of 0.20% showing neutrality on the charts. Moreover, trading volume increased by 0.78% to 1.78 Million and the market cap is $39.172 Billion. However, analysts have maintained a buy rating with a yearly target price of $242.48.</p>
<p>The Hershey Co. engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada. Its brands include Hershey’s, Reese’s, and Kisses. The company was founded by Milton S. Hershey in 1894 and is headquartered in Hershey, PA.</p>
<h2 class="wp-block-heading" id="strong-will-hsy-stock-retain-200-or-selloff-extend-to-150-strong"><strong>Will HSY Stock Retain $200 or Selloff Extend to $150?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/ZyK1v7dydIke_OA-pKGD69NwgM1onwcapQbzUIKCzn0-B5b5O8rgIfo9DOt5GU-u7b9a7q52K5bdj9t_wr4-TIFJ9wEHMpbUzs9BwP2Sw6hnRtUaidlKAiDkGg2juapxI9nmiPXcZNeKYeRMyndPplA" alt="HSY Stock (NYSE: HSY) Splits $200, Will it Fall Further?">
  <figcaption class="wp-element-caption">
   Source: HSY Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div>
<p>On the daily charts, HSY stock price is below neutrality indicating massive correction. Furthermore, the chart highlights bearish dominance and suggests that selloff will continue toward $150. Moreover, <a href="https://www.thecoinrepublic.com/2023/08/11/will-hershey-stock-nyse-hsy-rebound-from-trendline-at-220/" rel="noopener noreferrer nofollow">the HSY stock price</a> has slipped below the 23.6% Fibonacci retracement level and has splitted the support zone of $200 which is a negative sign for the upcoming sessions.</p>
<p>The RSI curve is in the oversold region and shows a negative crossover suggesting that follow on selling will continue in the next sessions. The MACD indicator shows a bearish crossover and red bars on the histogram suggesting that volatility may continue in the next sessions.</p>
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4>
<p>HSY stock price has persisted in losing gains inside the falling parallel channel. Moreover, the price action witnessed massive short additions which trapped the buyers’ long positions. Further sell-off is expected in the coming sessions.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $190 and $175</p>
<p>Resistance Levels: $200 and $220</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

HSY Stock (NYSE: HSY) Splits $200, Will it Fall Further?

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Thecoinrepublic.com

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