Price has mitigated the bearish POI at 42.62 and broken market structure to the downside. With the strong impulse to the downside, price has created an imbalance at 42.23 where price could potentially fill them before continuing lower into the first target at 38.43.
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We have what I refer to as a super consolidation period here
We bottomed out at 19.00 on 2020 COVID crash and been following the trendline ever since then.
We had a double bottom at 33.00 which acts now as support
And a 44.00 double top which acts as resistance.
So that is consolidation for the eventual rise up.
From 19.00 to...
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...
KHC (Kraft Heinz):
I like the risk vs reward on the daily chart as it broke the neckline of an inverted head and shoulders and has just come to retest the breakout spot.
Good enough for a long swing trade for me. Target of the inverted head and shoulders is in the 45 zone.
If you look at the weekly chart, you'll see a nice rectangle range between...
Price closed Friday under $40.50 after almost reaching that same price this week but stalling out near $40.44. This stock tends to move slower than others. $41.50 to me is a safe price range with zeroing out at $42 worst case before we lose money. Daily bar Friday closed under the most recent candle before that as well to note. Wave 3 may lowkey be a wave 5 but...
I firmly believe that this stock will go down in the next 2-3 weeks and that breakout you can see from the last 2 trading days is false. The stock has outperformed the S&P over the previous 3 weeks, but the buyers' power seems to have gone a bit. The stock needs some fresh air to regain the 200D EMA before a new retest of the resistance.
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...
7th gainer in October is NASDAQ:KHC . Holding period is 41 days (9/14/22-10/25/22). Account up 1%.
This month till today, my account is up 5.7%, average holding period is 13 days.
My trading method is mostly short term and is independent of market swings.
Will keep updating on my trades.
Asset and Time frame - KHC, Weekly
Entry Price - 33.40
Exit(Stop Loss) -35.58
Exit(Take Profit) - 25.57
Technical Analysis - Price has broken a weekly confirmed trend line, the 2-week moving average and with good solid volume to the downside, there's also a Fibonacci that works here nicely with multiple rejections from the 0.382 several times which confirms the...
Looks like we are in a range here. We just came off of a wave 5 motive. At some point, there will break out. If price doesn't break the high of (C) I would expect a retest anywhere between 61% to 100% of wave (A). Our stop loss is set at the top of the consolidation range. Happy Trading! This is a safe haven stock so be careful and dont use too much risk!
At this time, after the release of the last quarterly earnings, the price is corrected around its fair value. As can be seen from the chart, the trading range is constant with important peaks. I would wait for a buy under only $ 35 at the bottom of the channel. By distributing a steady dividend, it is an attractive stock due to its constant upward and downward movements.
