V-shaped bottom, strong reversal likely

HSY Hershey is looking at a potential bottoming out after showing strong bullish breakaway gap on 6th Feb 2025, first sign of a strong bottom rebound. Furthermore, the stock has formed a v-shaped bottom pattern and recent bullish candle has closes above the ichimoku's cloud, making the latest sign of a strong bullish confirmation based on ichimoku signal.

Long-term MACD has shown a clear return of bullish momentum after 1.) A crossover at the bottom and 2.) Histogram is positive.

Stochastic OScillator rose and has closed confirmed the oversold crossover and bullish momentum.

23-period ROC is rising.

We believe that HSY will likely stage a strong rebound as the weekly chart shows clear ending of the ABC corrective structure. Furthermore, 14-period RSI in the weekly chart shows a clear confirmation of a bullish divergence.

https://www.tradingview.com/x/vzGcWRR6/