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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended... More
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Marketocracy Capital Management
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  • Barchart Chart of the day -- Kellog --K 0 comments
    Mar 7, 2011 8:45 AM | about stocks: K
     Barchart.com's Chart of the Day - Kellogg (K) for Mar 7, 2011To access recent archived Chart of the Day reports, please go to:
    http://www.barchart.com/headlines/search.php?feed=BC&series=COD

    The "Chart of the Day" is Kellogg (K), which showed up on Barchart's "NYSE 12-month high" list last Friday. Kellogg last Friday rallied to a 2-1/2 year high of $54.50 and closed up 0.67% at $54.33. A rally above the record high for the stock of $54.55 posted in September 2008 would be a particularly bullish technical development. TrendSpotter has been long Kellogg since Feb 4 at $53.01. In recent news on the stock, Citigroup on Feb 8 reiterated Kellogg as its top pick in the food sector with upside to 2011 guidance and an excellent risk/reward at then-current levels. Citi reiterated its Buy rating on the stock and its $61 target. Kellogg, with a market cap of $19.5 billion, is the world's leading producer of cereal and a leading producer of convenience foods, including cookies, crackers, toaster pastries, cereal bars, frozen waffles, meat alternatives, pie crusts, and ice cream cones.

    k_700_01

    How we found the Chart of the Day:

    We found the "Chart of the Day" by scanning the Barchart "New Highs/Lows" page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. We then clicked on the "12-Month # Highs" column heading twice in order to sort the list in ascending order. Stocks with the fewest number of 12-month highs over the past 12 months are stocks that have only recently broken out to a new 12-month high and may have better upside potential then stocks that have already rallied sharply and have posted many new 12-month highs.

    Barchart's Opinion trading systems are all a Buy and Barchart's daily TrendSpotter trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    • TrendSpotter: Buy
    • Short-Term Indicators: 100% Buy
    • Medium-Term Indicators: 100% Buy
    • Long-Term Indicators: 100% Buy
    • Overall Average 100% Buy


    Barchart links for further information:

    Quotes and Charts
    Quote
    Detailed Quote
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    Technical Analysis
    Technicals Summary
    Trader's Cheat Sheet™

    Barchart Opinions
    Barchart Opinion
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    Trading Strategies

    Company Info
    Company Profile
    Key Statistics
    Ratios
    Income Statement-Quarterly
    Income Statement-Annual
    Balance Sheet-Current
    Balance Sheet-Annual


    Chart of the Day Archive
    View Past Chart of the Day Reports

     
    Themes: technical analysis Stocks: K
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