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Possible Bearish Inside Day Candle Pattern Detected for Kellogg Co (NYSE:K)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kellogg Co (NYSE:K) based on the price action in the company's shares. Yesterday's price range of $57.81 and $58.38 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Kellogg Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 19.6% exists for Kellogg Co, based on a current level of $58.33 and analysts' average consensus price target of $69.79. The stock should find resistance at its 200-day moving average (MA) of $65.53, as well as support at its 50-day MA of $58.13.

Kellogg Company manufactures and markets ready-to-eat cereal and other convenience foods. The Company's products include cereals, cookies, crackers, toaster pastries, cereal bars, fruit snacks, frozen waffles, and veggie foods. Kellogg markets its products in the United States, Canada, and other countries throughout the world.

In the past 52 weeks, Kellogg Co share prices have been bracketed by a low of $54.14 and a high of $74.98 and closed yesterday at $58.33, 8% above that low price. The 200-day and 50-day moving averages have moved 0% lower and 0.33% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Kellogg Co on October 31st, 2018 by issuing a Downtrend alert when the shares were trading at $66.21. Since that call, shares of Kellogg Co have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle kellogg co

Ticker(s): K