The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Kellogg Co. (K) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold areaBullish Piercing Line Candlestick
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It was the negative week for the Kellogg Co. (K). During the week, the K dropped -0.65 points, or -1.20%, and closed at 53.56 on Friday, March 15, 2024. Weekly volume was 48% above average.

Long-term trend: [See K long-term trend chart]
A long-term downtrend had started on October 31, 2022 at 77.17 and reached 47.63 on October 12, 2023. K lost 29.54 points, or 38.28%, in 49 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 36.16 and resistance is at 63.87. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See K medium-term trend chart]
A medium-term uptrend had started on October 12, 2023 at 47.63 and reached 58.23 on January 3, 2024. K gained -10.60 points, or -22.25%, in 11 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (54.73) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. K may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See K weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See K short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 54.48 and reached 52.46 on March 14, 2024. K lost 2.02 points, or 3.71%, in 3 days. The price is now at the 54.46% retracement level.

Daily Technical Indicators: [See K daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Candlestick pattern: [See K candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.75
Williams' Percentage Range (W%R) 97.40
Strong Oversold
Lane's Stochastic (%D-Slow) 37.13
Greed/Fear Indicator (GFI) 23.51
Moving Average Converg./Diverg. (MACD) -0.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.51
Williams' Percentage Range (W%R) 63.00
Lane's Stochastic (%D-Slow) 36.13
Greed/Fear Indicator (GFI) 40.86
Moving Average Converg./Diverg. (MACD) -1.76
Trading Signals
Description Value Chart
Yearly Trendline Resistance 63.87
Quarterly Trendline Resistance 56.99
Upper Bollinger Band 56.81
20 Day Moving Average 54.85
50 Day Moving Average 54.85
Quarterly Trendline Support 54.73
Parabolic System 54.69
Weekly Stochastic Crossing 54.32
Price 53.56
Daily Stochastic Crossing 53.21
Lower Bollinger Band 51.89
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Packaged Foods & Meats 21
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 54.48
High Date 03/11/2024
Low 52.46
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 54.48
High Date 03/11/2024
Low 52.46
Low Date 03/14/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 57.39
High Date 02/22/2024
Low 52.46
Low Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 56.99
Support 54.73
Low 47.63
Low Date 10/12/2023
High 58.23
High Date 01/03/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 63.87
Support 36.16
High 77.17
High Date 10/31/2022
Low 47.63
Low Date 10/12/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.