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Possible Bullish Inside Day Candle Pattern Detected for Kraft Heinz Co/T (NASDAQ:KHC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kraft Heinz Co/T (NASDAQ:KHC) based on the price action in the company's shares. Yesterday's price range of $28.61 and $28.90 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 Kraft Heinz Co/T may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 137.4% for shares of Kraft Heinz Co/T based on a current price of $28.76 and an average consensus analyst price target of $68.27. The stock should find initial support at its 200-day moving average (MA) of $28.73 and further support at its 50-day MA of $25.79.

In the past 52 weeks, Kraft Heinz Co/T share prices have been bracketed by a low of $19.99 and a high of $33.78 and closed yesterday at $28.76, 44% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

The Kraft Heinz Company produces food products. The Company distributes dairy products, sauces, flavored milk powders, and other products. Kraft Heinz serves customers worldwide.

SmarTrend is tracking the current trend status for Kraft Heinz Co/T and will alert subscribers who have KHC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle kraft heinz co/t

Ticker(s): KHC