Kellogg Company Stock Forecast
Stronger technical forecast for Kellogg Company stock price after Tuesday trading.
(Updated on May 07, 2024)
The Kellogg Company stock price gained 2.66% on the last trading day (Tuesday, 7th May 2024), rising from $60.04 to $61.64. During the last trading day the stock fluctuated 2.24% from a day low at $60.35 to a day high of $61.70. The price has fallen in 6 of the last 10 days but is still up by 6.02% 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, 710 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $215.91 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $60.98, a level that may pose a second chance to hit a runner. According to fan-theory $66.17 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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K Signals & Forecast
Mostly positive signals in the chart today. 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 $59.50 and $57.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 8.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Kellogg Company stock
Kellogg Company finds support from accumulated volume at $61.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.35 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 3.19%.
Our recommended stop-loss: $59.45 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (K) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Kellogg Company to open at $61.23, and during the day (based on 14 day Average True Range), to move between $60.27 and $63.01, which gives a possible trading interval of +/-$1.37 (+/-2.23%) up or down from last closing price. If Kellogg Company takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $61.28, some $0.360 (0.58%) from the current price of $61.64, our system finds the risk reward attractive.
Is Kellogg Company stock A Buy?
Kellogg Company holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.469 Strong Buy Candidate Upgraded
Predicted Opening Price for Kellogg Company of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $61.23 ( 0.665%) | $61.64 |
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 | 62.58 | 1.52 % | |
| R2 | 62.06 | 0.688 % | ||
| R1 | 61.75 | 0.171 % | ||
| Current price: | 61.64 | |||
| Support | S1 | 60.71 | -1.50 % | |
| S2 | 60.40 | -2.02 % | ||
| S3 | 59.88 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 61.64 | |||
| Support | S1 | 61.28 | -0.584% | |
| S2 | 56.99 | -7.54% | ||
| S3 | 54.94 | -10.87% |
K Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 14, 2024 | $0.560 | 0.91% |
| 2 | Feb 16, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.560 | 1.05% |
| 3 | Oct 27, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.560 | 1.04% |
| 4 | Jul 28, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.600 | 1.07% |
| 5 | Apr 28, 2023 | May 31, 2023 | Sep 15, 2023 | $0.590 | 1.05% |
FAQ
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