Kellogg tries to shake off negative pressure - Analysis - 22-06-2022

Kellogg's stock (K) surged after reporting plans to divide to three different companies, marking a session-high at 71.26, before bouncing lower and trimming the gains to 1.95%, or 1.32 points, and settling at 68.86, with trading volumes surpassing 11.1 million shares, above 10-day averages of 3.5 million shares. 

The stock is rising amid the dominance of the upward short-term trend, with positive signals from the RSI after reaching oversold levels, as the stock tries to shake off negative pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, targeting the pivotal resistance of 75.56, provided the support of 66.87 holds on.

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Expected trend for today: Bullish