Kellogg Daily Chart.
Kellogg (NYSE:K) is the top gainer in the S&P 500 Index following this morning’s solid earnings report. This powerful move is driving shares to new 2021 highs as it extends the gain off the February/March lows to 20%. Volume is running very hot in the early going and is already above the 50-day average. We expect more upside for K.
K’s big March rally lifted the stock into overbought territory (daily/MACD). The stock spent the month of April consolidating in a narrow range without giving up much ground. Shares are now well below their overbought levels as May begins.
Note: We have no position.