Kraft foods released its earnings today and its shares responded by gaining nearly 2.5%. As you can see from the chart below, KFT is about to face a long-term support/resistance line, which if broken, will likely send the price of the shares higher. Another level that the bulls must overcome before the price can head higher is the 200 DMA. One interesting point is that KFT has been unable to close above its 200 DMA for the past eight months. We'd expect to see the long-term trend shift upward in the event we do see the bulls push KFT above the aforementioned resistance.
Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.