Denver, Colo.-based WhiteWave Foods is a consumer packaged food and beverage company that manufactures, markets, distributes and sells branded products.
The company makes plant-based foods and beverages, including coffee creamers and beverages, dairy products and organic produce.
Insight from TheStreet's Research Team:
It's no surprise that many of the food stocks have come down, especially the ones with grocery aisles. Whole Foods (WFM:Nasdaq), Sprouts (SFM:Nasdaq) and The Fresh Market (TFM:Nasdaq) all missed the mark this quarter, yet the suppliers are doing just fine and thriving in an environment of changing consumer tastes.
WhiteWave (WWAV:NYSE) is one of those name, and by the looks of the chart, it may have more upside to come. After earnings in early May, the stock popped and held the gap, a sign of strength. After a brief consolidation, we saw it bolt higher on Wednesday on huge volume (circled).
The stock is now overbought, and as we see on the %R, it can stay that way for awhile. The Relative Strength Index is showing tremendous strength.