Hubert Senters here.
Let’s take a look at KHC also known as Kraft Heinz. So what we’re looking at here is a nice little breakout. But the rest of the market kind of either did sideways mumble jumble today or slightly negative. What we’re going to do is we’re going to go this low, this high and then that low.
That will give us a projection and then I want to show you another way that I’ll do targets too. I’m going to low, high, low. Next targets for Kraft Heinz could be $36, $39 and $40. Now, I’ll blow this up. I’ll go back. Let’s go to daily here. A little bit longer term. I’ll remove this. And then I’m going to change it to weekly chart.
You can see that this thing is almost the weekly buy. It’s had a rough life folks. It’s had a rough year. It’s had a rough since about in 2017. It’s been in a solid downtrend. It just now digging the host. But what you do is you go like this. You figure out where your most recent highs and lows are.
That’s the most recent high. This is the most recent low. Super simple. Draw from point one to point two from high to low. A 50 percent retracement of high to low would be $58.90. That would be the ultimate target for this trade if we got in it and didn’t get stopped out.
Good luck. Hope it helps. See you on the next video.
Hubert.
