Downtrend Broken Resist.Archive
- 9/22/2023 -
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Kellogg Co. (K) Technical Analysis
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|It was a second positive week after 7 consecutive negative weeks for the Kellogg Co. (K). During the week, the K climbed 0.25 points, or 0.42%, and closed at 60.21 on Friday, September 22, 2023. K was trading at average weekly trading volume. |
K is a member of Consumer Staples Sector. Consumer Staples is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See K long-term trend chart]
A long-term uptrend had started on May 31, 2019 at 51.34 and reached 77.17 on October 31, 2022. K gained -25.83 points, or -50.31%, in 178 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (64.68) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
Medium-term trend: [See K medium-term trend chart]
A medium-term downtrend had started on May 3, 2023 at 72.30 and reached 58.82 on September 13, 2023. K lost 13.48 points, or 18.64%, in 19 weeks. The price is now at the 10.31% retracement level.
Weekly Technical Indicators: [See K weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 4, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See K short-term trend chart]
A short-term uptrend had started on September 13, 2023 at 58.82 and reached 61.09 on September 21, 2023. K gained -2.27 points, or -3.86%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See K daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since September 8, 2023. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (60.01) comes close to the price (60.21). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.