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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. Today's price range of $65.38 and $66.24 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.

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 $71.05 and are now at $65.61, 28% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.2%.

Kellogg Co has overhead space with shares priced $65.61, or 6.0% below the average consensus analyst price target of $69.79. Kellogg Co shares have support at the 200-day moving average (MA) of $63.64 and additional support at the 50-day MA of $62.82.

SmarTrend is tracking the current trend status for Kellogg Co and will alert subscribers who have K in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle kellogg co

Ticker(s): K