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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kellogg Co (NYSE:K) based on the price action in the company's shares. Yesterday's price range of $53.85 and $54.15 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. Traders and investors interested in shares of Kellogg Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 29.7% exists for Kellogg Co, based on a current level of $53.81 and analysts' average consensus price target of $69.79. The stock should run into initial resistance at its 50-day moving average (MA) of $57.05 and subsequent resistance at its 200-day MA of $65.05.

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.

Over the past year, Kellogg Co has traded in a range of $53.33 to $74.98 and closed yesterday at $53.81, 1% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.5%.

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 19.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle kellogg co

Ticker(s): K