Will the 20 year channel break?
I have been battling with going long on Kellogs for the whole week. The chart is saying its at the bottom of a 2 year channel. Issue I see right now it this stock is a forgotten cash cow. because its forgotten does that mean in a sell off of the broad market this will break this channel? I don't know. But this channel poses very interesting buying opportunity. I will have a small position lets say 1/3 standard position size. with a stop $3 out of the channel. If the channel stays its a clear shot to around $80 Point and figure chart is extremely bearish. and has a bearish vertical count to 51.
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