Kellog daily chart indicators started turning bullish on 9 Apr ($57.16) through 11 Apr ($57.34). This bullish trend was also confirmed by the weekly chart at the same time. Using Fundamental Analysis, we determined that the Fair Value of Kellog should be closer to $72.53 (a 24% upside) from 18 Apr Thursday's close of $58.45.
Kellog company is standing it's ground at a trend line that was founded as support in '00 / '01, it also supported the stock during the financial crisis in '08 and now it's back on the same trendline.
Weekly MACD is crossing over around the same levels as the previous mentioned years where price hit this trendline.
On the montly the 200 EMA is also supporting...
$K has created a month descending channel with a perfect entry as of today. (03/27/19). This entry point provides a 2% max loss set at the point of breaking the descending channel pattern with a 7.9% profit. Very solid chart.
looks like Kellog (RIC: K) is on the verge of trend change:
1) Down trend Line broken with price validating this break ( see green eclipse);
2) Resistance now turned support at 70.80$ was broken;
3) RSI bottoming at around 45% ( sign of a bullish break);
although a bearish divergence ( see Black arrows) is there it looks like it has a minor effect on...
K may drop to $68 as it hit a long term horizontal and trendline resistance. Price has also been over extended from the keltner channel. It is also confirmed with recent stochastic RSI divergence. Once it reached the bottom line of inside channel, if the stock price continues to decline, then the next target will be $62.