07.08.2014 - The price of Snyder'S-Lance can drop significantly in the near future

Company's share price of Snyder'S-Lance broke the lower boundary of the convergent triangle and continued to decline. At the moment the price is trying to consolidate below the local minimum of about 25.50 and in case of success, we recommend to open short positions with the targets of 24.50, 23.00 and 21.50. Growth is limited by the resistance around 25.90, above which we should set a stop. In the medium term, the price is likely to continue to decline.

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