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Campbell Soup Stock Will Likely Simmer for a While

Bruce Kamich

In the daily bar chart of CPB, below, we can see a modest rally from early June to early August. Now look at the strength in the On-Balance-Volume (OBV) line -- the line goes up into September and has not really turned lower with prices. The trend-following Moving Average Convergence Divergence (MACD) oscillator turns lower in July and is below the zero line this month.