Kraft moving to the upside of the range soon

NASDAQ:KHC   The Kraft Heinz Company
Our algorithm has sent us an alert on Kraft.

It has been trading in a clear range which is hard to see in today’s market conditions and now has created a head and shoulders with and embedded V end pattern inside.

Both patterns have been seen thousands of times before by our algorithm and with a win rate of more than 75% are good patterns, especially when formed together.

The idea is to buy if the price breaks the blue line and find a take profits in the upper zone.

Note that we prefer a 2:1 risk reward ratio and take profits before we arrive in the crowded upper zone, but you could think in a 3:1 risk reward if you just go for the price pattern objective.
In our opinion, there could be some pull-back before we arrive to the upper zone, so we prefer to take an almost 8% profit than being stuck in this stock during weeks to earn a 12%.

We have new patterns every day so having cash available is crucial to do not miss future opportunities.
Trade closed: target reached:
The Head and Shoulders worked as expected, the resistance was broke, we saw a pullback and then take profits.

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