Kellog Growth?
Updated
looks like Kellog (RIC: K) is on the verge of trend change:
Rational:
1) Down trend Line broken with price validating this break ( see green eclipse);
2) Resistance now turned support at 70.80$ was broken;
3) RSI bottoming at around 45% ( sign of a bullish break);
although a bearish divergence ( see Black arrows) is there it looks like it has a minor effect on the bullish momentum buildup.
Trading Implications:
Buy at market ( now 71.12$);
Target (s): 73.75$ - 76.50$ - 78.30$;
Stop: A 2 days close Below 70.80$ or an 2% break of 70.80$ = 69.38$;
In the News:
Quoting form Credit Suisse following a meeting with top management : "Without giving explicit guidance, we heard a profound degree of confidence that the company can generate top and bottom line profit growth in 2019"
Rational:
1) Down trend Line broken with price validating this break ( see green eclipse);
2) Resistance now turned support at 70.80$ was broken;
3) RSI bottoming at around 45% ( sign of a bullish break);
although a bearish divergence ( see Black arrows) is there it looks like it has a minor effect on the bullish momentum buildup.
Trading Implications:
Buy at market ( now 71.12$);
Target (s): 73.75$ - 76.50$ - 78.30$;
Stop: A 2 days close Below 70.80$ or an 2% break of 70.80$ = 69.38$;
In the News:
Quoting form Credit Suisse following a meeting with top management : "Without giving explicit guidance, we heard a profound degree of confidence that the company can generate top and bottom line profit growth in 2019"
Trade active
First target almost thereTrade active
ReachedTrade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.