November 19 Chart of the Day - Kraft Heinz
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Kraft Heinz (KHC) is one of the largest global packaged food and consumer goods companies, known for brands that reach households across more than 40 countries.
Despite its scale and brand strength, the stock has been in a multi-year decline following its $97 peak in 2017.
Today, it is approaching a critical level on the charts where long-term support represents the last chance for the bulls, giving traders a unique look at a major consumer staples name under pressure.
We'll review the chart from a price action perspective to identify potential levels of interest in both directions.
The charts highlight key levels where investors and traders alike will be watching closely.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 650+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.
Monthly Chart
The monthly chart shows a massive multi-year collapse from the $97.77 highs down to the long-term support floor near $20. Price continues to grind lower inside a wide consolidation band, with each bounce producing lower highs.
After rejecting the underside of the broader downtrend structure, the current monthly candle sits just above a potential $25.34 support area. A decisive break below this would open the door back to the $19.99 low, while any sustained bounce would need to clear multiple prior resistance levels stacked above.
This is one of the clearest examples of a long-term downtrend still firmly intact, and traders are watching closely for signs of accumulation or capitulation at these levels.
With plenty of volatility traders have had much to be happy with but long term buy and hold investors have been sorely disappointed.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
The weekly view reveals a clean descending trendline that has capped price for more than two years. Each rally attempt has failed under that level, making it a critical line in the sand for bulls.
Price is currently moving inside a falling wedge structure, a pattern that often precedes trend breaks. Traders will be watching to see if KHC can break the wedge, reclaim the $28.53 to $29.66 band, and start a more meaningful reversal attempt.
Until then, the downtrend remains in control.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
Because You Were Interested in today's FREE Chart of the Day...
You may also be interested in this FREE Trading Workshop designed for traders with ambitious income goals but struggle with consistency.
The Breakthrough Method For Traders Who Know What To Do But Struggle With Consistency
Gain Confidence and Clarity with the Patent-Pending NeuroTrading Method™
Learn The Exact System With This Step By Step Training (Even If You Can Only Trade Part Time)
Start Seeing Measurable Results in 21 Days