I wrote about cyclicals vs. non-cyclicals earlier this week. The point was that some non-cyclicals like consumer staples are decoupling from the S&P 500 and ripping higher. Read here: http://www.minyanville.com/businessmarkets/articles/sp500-utilities-consumer-staples-financial-sector/4/18/2011/id/34021
In that group of stocks we also find Heinz (HNZ). While Ketchup arguably goes well with many types of foods (eggs & hashbrowns anyone?), at this stage it might also fit in my portfolios.
Not only does it play into the theme of non-cyclicals outperforming near the end of a bull cycle, but it also looks nice on the charts; if the stock holds above $51 it may work as a breakout candiate on the weekly chart.
Note: earnings currently scheduled for May 26
