The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 9/22/2023 -
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Kellogg Co. (K) Technical Analysis

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Summary:
Weekly :Broken trend support lineOversold sectorWilliams' Percentage Range oversoldLane's Stochastic is strongly oversold
Daily :A Parabolic SAR indicator is above and near the pricePrice is near the Fibonacci 38.2% retracement level
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.60
Williams' Percentage Range (W%R) 53.90
Lane's Stochastic (%D-Slow) 77.54
Greed/Fear Indicator (GFI) 59.09
Moving Average Converg./Diverg. (MACD) -0.98
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.18
Williams' Percentage Range (W%R) 88.50
Oversold
Lane's Stochastic (%D-Slow) 8.27
Strong Oversold
Greed/Fear Indicator (GFI) 19.87
Oversold
Moving Average Converg./Diverg. (MACD) -1.46
Trading Signals
Description Value Chart
Yearly Trendline Support 64.68
50 Day Moving Average 63.04
Upper Bollinger Band 62.18
Daily Stochastic Crossing 60.53
20 Day Moving Average 60.22
Price 60.21
Parabolic System 60.01
Weekly Stochastic Crossing 59.67
Lower Bollinger Band 59.03
Sector and Industry
Description Name Rank
Sector Consumer Staples 2
Industry Packaged Foods & Meats 19
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 58.82
Low Date 09/13/2023
High 61.09
High Date 09/21/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 68.69
High Date 07/05/2023
Low 58.82
Low Date 09/13/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 72.30
High Date 05/03/2023
Low 58.82
Low Date 09/13/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 77.17
High Date 10/31/2022
Low 58.82
Low Date 09/13/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 78.86
Support 64.68
Low 51.34
Low Date 05/31/2019
High 77.17
High Date 10/31/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.