KHC unable to break through key resistance level


Kraft Heinz Co (KHC) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
KHC unable to break through key resistance level
KHC still stuck within tight trading range
KHC closes within previous day's range
KHC ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

KHC ended the week -0.9% lower at 63.85 after gaining $0.21 (0.33%) today. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for KHC
Volatility

Friday's trading range was $1.09 (1.71%), that's slightly below last trading month's daily average range of $1.17. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 63.29 and 64.75 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to a key support level at 63.34. Unable to break through the key technical resistance level at 64.54, Kraft Heinz closed below it after spiking as high as 64.59 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying could speed up should prices move above the close-by swing high at 64.75 where further buy stops might get triggered. Selling could accelerate should prices move below the nearby swing low at 63.29 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Kraft Heinz Co
ConditionForecastDirectionWinAvgWorstBestEvents
Rickshaw-Man TQ Pro Members Only
Doji TQ Pro Members Only
Long-Legged Doji TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Gravestone Doji TQ Pro Members Only
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