Kraft Heinz Company Stock Forecast
Kraft Heinz Company stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The Kraft Heinz Company stock price gained 1.81% on the last trading day (Friday, 19th Apr 2024), rising from $37.11 to $37.78. It has now gained 5 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 2.28% from a day low at $36.99 to a day high of $37.83. The price has risen in 6 of the last 10 days and is up by 1.94% 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, 2 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $344.05 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $36.34 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $38.60 sometime during the next 3 months.
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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 $36.74 and $36.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 10.08%. 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).
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 $37.15 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 $0.84 between high and low, or 2.28%. For the last week the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: $35.96 (-4.81%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (KHC) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect The Kraft Heinz Company to open at $37.53, and during the day (based on 14 day Average True Range), to move between $37.23 and $38.33, which gives a possible trading interval of +/-$0.552 (+/-1.46%) 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 2.92% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $37.15, some $0.630 (1.67%) from the current price of $37.78, our system finds the risk reward attractive.
Is The Kraft Heinz Company stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Kraft Heinz Company stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.863 Buy Candidate Upgraded
Predicted Opening Price for The Kraft Heinz Company of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $37.53 ( 0.657%) | $37.78 |
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 | 38.38 | 1.58 % | |
| R2 | 38.05 | 0.725 % | ||
| R1 | 37.85 | 0.197 % | ||
| Current price: | 37.78 | |||
| Support | S1 | 37.21 | -1.51 % | |
| S2 | 37.01 | -2.04 % | ||
| S3 | 36.69 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 37.78 | |||
| Support | S1 | 37.15 | -1.67% | |
| S2 | 35.35 | -6.43% | ||
| S3 | 34.16 | -9.58% |
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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