KHC has been in a falling channel for 4 years. Then finally with a strong bounce off $20 it has broke through the channel.
At this point watch for the upwards weekly close over $35. There should be very little resistance to $44 and a break above that could send KHC into a bull run for the next several years.
There also could be a long period of accumulation. Warren Buffet has been criticized for becoming the largest shareholder in KHC. This may lead to selling off slowly as Berkshire reduce their holdings. Accumulation will be extended if this happens but in the end I see nothing but $ being made for long term holds.
At this point watch for the upwards weekly close over $35. There should be very little resistance to $44 and a break above that could send KHC into a bull run for the next several years.
There also could be a long period of accumulation. Warren Buffet has been criticized for becoming the largest shareholder in KHC. This may lead to selling off slowly as Berkshire reduce their holdings. Accumulation will be extended if this happens but in the end I see nothing but $ being made for long term holds.
Comment:
looking bullish still. Shouldn't have much resistance until around $45