Technical Signals Point to a Possible Breakout for KRAFT HEINZ CO/THE.

KRAFT HEINZ CO/THE (NASDAQ:KHC) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:KHC.

Zooming in on the technicals.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, KHC scores 8 out of 10 in our technical rating. Although KHC is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month KHC has a been trading in the 36.38 - 38.61 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• When comparing the performance of all stocks over the past year, KHC turns out to be only a medium performer in the overall market: it outperformed 51% of all stocks.
• KHC is part of the Food Products industry. There are 91 other stocks in this industry, KHC did better than 70% of them.
• KHC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so KHC is lagging the market.

Check the latest full technical report of KHC for a complete technical analysis.

How do we evaluate the setup for NASDAQ:KHC?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:KHC currently has a 9 as setup rating:

KHC has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 37.54. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.20, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NASDAQ:KHC?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.