Kellogg Company (K) stock has been trading in a sideways range for six months. Everyone knows this company's cereal brands as well as convenience foods, including cookies, crackers, toaster pastries, cereal bars, frozen waffles and now meat alternatives, but let's check out the charts and indicators to make our case for an upside breakout for this "Special K."
In the daily bar chart of K, below, we can see that the shares made a sideways move since early April. Within the sideways pattern we can see that prices have been testing the bottoming 200-day moving average line since June -- a subtle rounding bottom pattern.
Trading volume has been neutral this time and the On-Balance-Volume (OBV) line has moved sideways too. The Moving Average Convergence Divergence (MACD) oscillator has been moving around the zero line but is currently above it in bullish territory.