Campbell's Co

CPB appears to be transitioning into a medium-term Stage 2 advance, with price breaking above a near-term congestion range and holding above rising 9EMA/20EMA and the 50-day SMA. The asset registers an oversold context, making pullbacks into the EMAs attractive entry points. While the medium-term bias is bullish, the long-term downtrend below the declining 200-day SMA remains a structural headwind. Buy Now on confluence at EMA support is recommended.

• ↑Q3 revenue $2.1B (+5% YoY) with a $30M ERP benefit
• ↑New gluten-free and premium lines align with health trends
• ↓Gross margin 10% in Q3 (down 400bps YoY)