Kraft: Gains to be capped?!

NASDAQ:KHC   The Kraft Heinz Company
Kraft Heinz Company

Short Term - We look to Sell at 38.68 (stop at 40 .36)

Prices have continued the bullish move higher and resulted in 2 consecutive positive days. This has resulted in signals for sentiment being at overbought extremes and we look for a move to the downside. Bespoke resistance is located at 39.00. Price action continues to gravitate towards crucial resistance levels with aggressive buying interest. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.

Our profit targets will be 34.50 and 33.00

Resistance: 39.00 / 44.50 / 55.00
Support: 34.50 / 31.00 / 25.00

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