Kraft Heinz Company Stock Forecast
Kraft Heinz Company stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Kraft Heinz Company stock price gained 0.569% on the last trading day (Thursday, 18th Apr 2024), rising from $36.90 to $37.11. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.72% from a day low at $36.65 to a day high of $37.29. The price has been going up and down for this period, and there has been a -0.38% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 513 thousand more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $247.98 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $37.32 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Kraft Heinz Company stock with a 90% probability to be traded between $33.62 and $36.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KHC Signals & Forecast
The Kraft Heinz 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 $36.61 and $35.93. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -0.749%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Thursday, March 14, 2024 with a target of $36.25. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Kraft Heinz Company stock
Kraft Heinz Company finds support from accumulated volume at $35.35 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 $0.632 between high and low, or 1.72%. For the last week the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KHC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect The Kraft Heinz Company to open at $37.02, and during the day (based on 14 day Average True Range), to move between $36.58 and $37.64, which gives a possible trading interval of +/-$0.529 (+/-1.43%) up or down from last closing price. If The Kraft Heinz Company takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.15 (0.11%) than the support at $35.35 (4.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is The Kraft Heinz Company stock A Buy?
Kraft Heinz Company holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.179 Sell Candidate Downgraded
Predicted Opening Price for The Kraft Heinz Company of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $37.02 ( 0.253%) | $37.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KHC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.65 | 1.45 % | |
| R2 | 37.41 | 0.799 % | ||
| R1 | 37.26 | 0.397 % | ||
| Current price: | 37.11 | |||
| Support | S1 | 36.77 | -0.90 % | |
| S2 | 36.63 | -1.31 % | ||
| S3 | 36.38 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.25 | 0.377 % | |
| R2 | 37.21 | 0.269 % | ||
| R1 | 37.15 | 0.108 % | ||
| Current price | 37.11 | |||
| Support | S1 | 35.35 | -4.74% | |
| S2 | 35.28 | -4.93% | ||
| S3 | 34.16 | -7.95% |
KHC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Mar 07, 2024 | Mar 29, 2024 | $0.400 | 1.08% |
| 2 | Nov 30, 2023 | Nov 30, 2023 | Dec 29, 2023 | $0.400 | 1.08% |
| 3 | Aug 02, 2023 | Aug 31, 2023 | Sep 29, 2023 | $0.400 | 1.19% |
| 4 | May 03, 2023 | Jun 05, 2023 | Jun 30, 2023 | $0.400 | 1.13% |
| 5 | Feb 15, 2023 | Mar 09, 2023 | Mar 31, 2023 | $0.400 | 1.03% |
FAQ
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