Campbell Soup is looking attractive. A solid base is forming underneath the multi week May lows. This week the 50 day moving average will cross the 200 day for the first time since the first quarter of 2017. The 200 day, which capped important monthly highs in 2017 and 2018, is in position to provide solid footing for a fresh rally leg. We consider CPB to be a low risk buy at current levels. A close back below $37.50 would violate the May lows sending a clear warning sign.
At time of publication we do not have a position in CPB.