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Barchart Chart of the day -- Kellog --K 0 comments
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.
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.
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