Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>KHC stock price has been experiencing a bearish trend since the start of June this year.</a></li>
 <li><span>2</span> <a>Kraft Heinz Co. has released its Quarter 2 results of 2023 recently.&nbsp;</a></li>
 <li><span>3</span> <a>The current trend is negative while the current price is near the demand zone.</a></li>
</ul>
<p>Kraft Heinz Co. (NASDAQ: KHC) is a Pittsburgh-based firm that facilitates the manufacture and market of food and beverage products. The company was founded in 1909, and today it has a market cap of over $38 Billion.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-financial-highlights-of-the-latest-quarterly-report-strong"><strong>Financial Highlights of the Latest Quarterly Report</strong></h2>
<p>Despite a challenging operating environment due to inflation and supply chain disruptions, the company delivered strong results. During the 2nd quarter, the net revenue was expanded by 2.56%. Coming down after the operational costs, the Earnings before interest taxes, and depreciation (GAAP) expanded by 13.4%. The EPS was $0.81, up 277.9% (year-on-year). Moreover, in the annual report of 2022, the firm stated its organic growth of 10.4% (sales without any acquisition cost).</p>
<h3 class="wp-block-heading" id="strong-chairman-s-words-turning-to-reality-strong"><strong>Chairman’s Words Turning to Reality</strong></h3>
<p>During the last annual report, The CEO and Chairman of the Board Miguel Patricio Said that, they had ended the year with solid momentum. This financial growth positions the company well for 2023.&nbsp;</p>
<p>The CEO also emphasized that Kraft Heinz remained focused on investing in its brands and delivering on efficiencies while prioritizing its key growth pillars. In addition, the CEO expressed his pride in the entire Kraft Heinz team for their agility in responding to the difficult operating environment.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-khc-stock-price-strong"><strong>Technical Analysis and Prediction of the KHC Stock Price</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/lXAgwYdpIDgeqnqGuiKBw-dBwODuZPMb8UXr894jK5tTrZ8ua5ZfUEINCrKhYTo2JJ5gHQbY9insHatiSWxGhURjdX6dI0sYns6zvgALlo8z2RXxmWdK30NaS23Dt6V27EaODTupp-KHtcDyDJttPrQ" alt="KHC Stock Price: How Long Till the Bulls Reverse the Trend?">
  <figcaption class="wp-element-caption"><a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3AKHC" rel="noopener noreferrer nofollow">NASDAQ: KHC Stock Chart by Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>The KHC stock price started dropping after the bears took control in June this year. The bearish investors broke a significant resistance level of $38.6, which resulted in the start of a bearish rally.</p>
<h3 class="wp-block-heading" id="strong-judgement-point-strong"><strong>Judgement Point</strong></h3>
<p>At the press time, KHC <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" rel="noopener noreferrer nofollow">stock price</a> is trading at $31. The bulls seem to take control of this support level of $31.21 as they have started rejecting the sell-off. The stock is currently at the ‘judgement point’. If the bulls can rebound from this current support level and make a higher low above this trendline, it will be a trend reversal.&nbsp;</p>
<p>The relative strength index (RSI) is currently at the neutral zone of 40, while its SMA is at 37, which indicates a short-term bullish strength. The prediction for KHC stock price will depend upon the price action 3 days from now on.&nbsp; If the momentum is strong, then a trend reversal will arrive.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Kraft Heinz Co. (NASDAQ: KHC) posted financial results with slight growth in revenues. The company stood by the chairman’s words from last year’s annual report. However, the KHC stock price has been in a downtrend since June. The current price is near a ‘judgment point’.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $31 and $27</li>
 <li><strong>Resistance Levels: </strong>$35 and $38</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

KHC Stock Price: How Long Till the Bulls Reverse the Trend?

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Thecoinrepublic.com

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