Kellogg Company Stock Forecast
Kellogg Company stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Kellogg Company stock price gained 1.05% on the last trading day (Wednesday, 24th Apr 2024), rising from $58.14 to $58.75. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.56% from a day low at $57.32 to a day high of $58.79. The price has risen in 7 of the last 10 days and is up by 3.05% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $128.86 million.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $58.86 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.84% during the next 3 months and, with a 90% probability hold a price between $56.79 and $61.71 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
K Signals & Forecast
The Kellogg Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $57.20 and $55.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.05%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Kellogg Company stock
Kellogg Company finds support from accumulated volume at $56.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.47 between high and low, or 2.56%. For the last week the stock has had daily average volatility of 1.68%.
Since the Kellogg Company has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $56.27 (-4.23%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (K) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Kellogg Company to open at $58.29, and during the day (based on 14 day Average True Range), to move between $57.78 and $59.72, which gives a possible trading interval of +/-$0.97 (+/-1.65%) up or down from last closing price. If Kellogg Company takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $56.11, some $2.64 (4.49%) from the current price of $58.75, our system finds the risk reward attractive.
Earnings coming up
Kellogg Company will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.85. We will update the financials statements for Kellogg Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.18% in the first trading day after earnings release.
Is Kellogg Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kellogg Company stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.157 Buy Candidate Upgraded
Predicted Opening Price for Kellogg Company of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $58.29 ( 0.789%) | $58.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for K
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.76 | 1.71 % | |
| R2 | 59.20 | 0.758 % | ||
| R1 | 58.85 | 0.167 % | ||
| Current price: | 58.75 | |||
| Support | S1 | 57.73 | -1.74 % | |
| S2 | 57.38 | -2.33 % | ||
| S3 | 56.82 | -3.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 58.75 | |||
| Support | S1 | 56.11 | -4.49% | |
| S2 | 54.94 | -6.49% | ||
| S3 | 53.56 | -8.83% |
K Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.560 | 1.05% |
| 2 | Oct 27, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.560 | 1.04% |
| 3 | Jul 28, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.600 | 1.07% |
| 4 | Apr 28, 2023 | May 31, 2023 | Sep 15, 2023 | $0.590 | 1.05% |
| 5 | Feb 17, 2023 | Feb 28, 2023 | Mar 15, 2023 | $0.590 | 0.96% |
FAQ
Click here for our free guide on how to buy Kellogg Company Stock.
