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KELLANOVA DRNKELLANOVA DRNKELLANOVA DRN

KELLANOVA DRN

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K1EL34 trade ideas

Kellog Growth?looks like Kellog (RIC: K) is on the verge of trend change: Rational: 1) Down trend Line broken with price validating this break ( see green eclipse); 2) Resistance now turned support at 70.80$ was broken; 3) RSI bottoming at around 45% ( sign of a bullish break); although a bearish divergence ( see Black arrows) is there it looks like it has a minor effect on the bullish momentum buildup. Trading Implications: Buy at market ( now 71.12$); Target (s): 73.75$ - 76.50$ - 78.30$; Stop: A 2 days close Below 70.80$ or an 2% break of 70.80$ = 69.38$; In the News: Quoting form Credit Suisse following a meeting with top management : "Without giving explicit guidance, we heard a profound degree of confidence that the company can generate top and bottom line profit growth in 2019"
NYSE:K
by Eliarich
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