Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Kellogg’s stock price (K) fell in the intraday levels on profit-taking, while gathering positive momentum to rise anew, amid the dominance of the upward correctional trend in the short term, with positive pressure from the 50-day SMA, coupled with positive signals from the RSI despite settling at overbought levels.
Therefore we expect the stock to return higher and target the resistance of $64.00, provided it settles above $58.23.
Trend forecast: Likely Bullish