Entry: $43.30
SL: $41.00 (loss 5.50 %) (visual only, close if daily closing price below) (but also a good investment)
TP: $55.70 (profit 28.4 %, ratio 5.1)
Hello Traders and Investors,
in my opinion, this setup also offers both a very good trading and a good investment opportunity.
The price formed a cup formation (without a handle) and is just about to break...
An ABC in the form of a target of an inverted contraction triangle
+ This ABC is in the form of a large X-wave after deep shaving or a three-wave in the form of a triangle or a diamond that is forming in a larger scale.
+ Target is minimum of $ 49 and maximum of $ 70( which can achieve the goal of the classic Cup pattern).
Due to the inverted Head and Shoulders and respecting the Fibonacci Retracement levels we can expect KHC to go up to 55 USD.
TP Levels:
42 1st
55 2nd
68 3rd
Fundamentals aswell will give us a switch back to defensice stocks.
This is not an investment advice, just my own opinion.
The trend change could be in full swing and a strong signal would be a close of the gap. Can Kraft Heinz gather enough strength to make the breakout?
That would be 30% price increase and maybe more!
