ITM.Trading
Short

$K Overbought, Triple Top Rangebound Short Sell Idea

NYSE:K   KELLOGG COMPANY
17 0 0
I would expect some compression into this triple top if it does end up eventually breaking it. Before this compression it is premature for the bulls.
1) ADX over 40 can be used as an extreme reading if you don't consider the market to be trending.
2) RSI reading went into extreme territory (80+) and is now dipping back under it
3) 200 SMA is flat which is typical for range bound markets
4) MACD histogram is falling as MACD-Signal difference narrows
DYOR as always
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