Trade Ideas: HNZ

No great change in the markets as buyers and sellers were reluctant to do business - It probably turned out to be a better day for the bulls because of this. This meant the Trade Ideas scan continued to produce defensive stock ideas and Heinz (HNZ) was no exception to this rule.

The stock trades inside a well defined channel on increasing volume. A shareholder battle rages from within, but this potential negative hasn't damaged the stock's price. A 3.4% yield is a nice payoff if dividends can keep pace with a rising stock price. A move to $44 will trigger a double top breakout on the point-n-figure chart and send it well on its way towards the latter chart's target of $64. One for the ROTH-IRAs perhaps?

H. J. Heinz Company, along with its subsidiaries, engages in the manufacture and marketing of processed food products. Its products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant food, and other processed food products. The company also owns or leases office space, warehouses, distribution centers, and research and other facilities. It sells products through its own sales organizations, independent brokers, agents, and distributors to convenience stores, bakeries, pharmacies, mass merchants, club stores, foodservice distributors, hotels, restaurants, hospitals, health-care facilities, certain government agencies, and chain, wholesale, cooperative, and independent grocery accounts.





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