K trade ideas
K Near support and a good defensive name to own if we turn lowerK is a bit oversold and near recent support. If we get any kind of downside here it is a good defensive name to own and earnings don't come until 2/9. It is near the bottom Bollinger bands and I favor the 2/75 calls but not above $ .75...OZ
Business & Politic's - NEGATIVELY CORRELATED?Because of discrimination and divisiveness in USA last 8 years and electing an America 1st President Of USA, to start on January 20, 2017- some publicly traded stock companies decided to make their POLITICAL views known.
Like: Grubhub, Kellogg Co (which makes a lot of grocery products) has essentially told half the population in USA- that we don't want your business. Like sports stars, Hollywood & entertainers and big stock corporations- politic's can ruin your business. This week Kellogg made some personal decisions to make known political views on POTUS election happened on Nov. 8th, which might forever change their bottom line to lower STOCKS, less business and less stability, because people they don't agree with will buy cereals & other products from their competitors. *Look at drop to bearish side of stock this week, this is a lot of money. Rest of year- trade bearish opportunities.
Short Term Descending Channel in a Long Term Ascending WedgeApproximately a 7 year uptrend in Kellogg, in the form of an Ascending Wedge. Short term Descending Channel to the bottom of the Ascending Wedge. Immediate entry at touch of upper trend line of Descending Channel, exit at touch of bottom trend line of Ascending Wedge. Most likely K will trade sideways in the triangle shown for the immediate future. K will probably not breakout (blue) or breakdown (red) until the broader market decides on its direction one way or the other. If price breaks down through the bottom trend line of the Ascending Wedge then it will most likely stall at the secondary trendline in red and eventually reach the bottom of the Long Term Ascending Channel, this will offer a better risk:reward than a breakout to the upper trend line of the Long Term Ascending Channel. K will most likely offer multiple range trades within this Descending Channel over the next 3-12 months, buy the bottom of the channel and sell the top of the channel, until price breaks out or breaks down. With stops equal to about half of the channel width.
Kellogg Technical Analysis: Topping?Kellogg Technical Analysis:
-The price has been fluctuating heavily near the top of the multiple channels long term channels.
-The recent price action is taking the of a bearish rising wedge as well.
-A major monthly long-legged doji at that resistance area
-Bearish divergence on MACD
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Kellog Company - Weekly double topI recently posted a chart of the DOW saying that we are very close to a major correction, if not a bear market. So it's time to look for shorts. Kellogg has a very nice pattern forming, a double top, with a divergence and a false breakout. I won't short it yet, I will be looking for a daily setup, which is probably coming in a few days. First target is around 63$ - 64$, this being so close to where we currently stand, just in case I'm wrong and there won't be any serious correction in the market. Second target is around 58$. Under that, either we will be in the middle of a bear market, or there will be some serious issues with this particular company.
Long idea for Kellogg Company($K)Nice action today the buyers have stepped on this major support level.
We have nice Bullish Harmonic pattern lined up with a major Fibonacci zone.
Stoch is oversold and previous history of the stock has shown the stock bounces back hard when in oversold status.
MACD is looking to do a bullish crossover.
I will start a position here at 62.27 and add if needed. The risk is less than 2%.