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

By Shiri Gupta

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. Today's price range of $56.85 and $56.85 is within yesterday'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.

There is potential upside of 22.8% for shares of Kellogg Co based on a current price of $56.85 and an average consensus analyst price target of $69.79. Kellogg Co shares should encounter resistance at the 200-day moving average (MA) of $58.98 and support at the 50-day MA of $55.50.

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 $51.34 and a high of $74.98 and are now at $56.85, 11% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.2%.

SmarTrend is monitoring the recent change of momentum in Kellogg Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kellogg Co in search of a potential trend change.

Keywords: bearish inside day candle kellogg co

Ticker(s): K