When we take a look at other technical indicators, the ( ) is at 40.7957. tends to determine overbought and oversold levels. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is slowly moving down.
The true strength index (TSI) is currently -4.5126. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is moving down.
The negative indicator ( VI ) is at 1.0516. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is moving down.
The oscillator K value is 16.9329 and D value is 17.6418. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The current reading declares the stock is trending downward and has been due for a reversal the past five days.
Considering the moving average crossover, , TSI, VI and levels, the overall direction appears to be heading down. Based on historical movement compared to current levels and the current position, the stock could lose another 0.48% over the next 5 trading days. The overall Macro trend is forming a with the apex around mid-May. It is highly likely Kellogg will break out of this before May. Based on the current readings, the break from the could occur in the current downtrend. The determining factor will be when the stock crosses through the support line currently around 72.20. A strong break down with greater than 3 million in would lead to a deeper drop for the stock. If the support is not broken on this trip, a break above resistance (top yellow line) with could signify a stronger move up.
Elliott Wave Ideas