Hershey Stock Poised to Notch Fresh Record High

The security maintains an over 15% year-over-year lead

Digital Content Manager
Feb 16, 2023 at 12:26 PM
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The shares of Hershey Co (NYSE:HSY) are down 1.5% at $233.93 at last check, but maintain a 15.4% year-over-year lead. The equity attempted to conquer its Dec. 9, all-time high of $242.56 twice before Valentine's Day, and is now pulling back. This drop may have been  what the chocolate stock needed to bounce higher, though, as it is currently flashing a historically bullish signal.

According to Schaeffer's Quantitative Analyst Rocky White, HSY's latest peak comes amid historically low implied volatility (IV), which has been a bullish combination for the shares in the past. White's data shows four other signals in the last five years when the security was trading within 2% of its 52-week high, while its Schaeffer's Volatility Index (SVI) stood in the 20th percentile of its annual range or lower. This is the case with Hershey stock's SVI of 18%, which sits in the 10th percentile of its annual range. 

One month after these signals, HSY was higher, averaging a 5.3% gain. From its current perch, a move of similar magnitude would place the security at a brand new record high of $246.32.

The brokerage bunch is bearish toward Hershey stock, with 10 calling it a tepid "hold' or worse, while five say "strong buy." This leaves ample room for upgrades going forward.


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