Kraft Heinz Stock's Death Cross: A Recipe For Decline?
Portfolio Pulse from Surbhi Jain
Kraft Heinz Co (NASDAQ:KHC) has entered a bearish phase, forming a death cross as its 50-day moving average crosses below its 200-day moving average. The stock is down 11.03% over the past year and 13.85% year-to-date, with technical indicators like MACD, RSI, and Bollinger Bands suggesting further declines.
July 02, 2024 | 1:08 pm
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Kraft Heinz Co (NASDAQ:KHC) has formed a death cross, a bearish technical pattern, as its 50-day moving average crosses below its 200-day moving average. The stock is down 11.03% over the past year and 13.85% year-to-date, with technical indicators like MACD, RSI, and Bollinger Bands suggesting further declines.
The death cross is a strong bearish signal, indicating that the stock's short-term momentum is weaker than its long-term trend. Combined with other negative technical indicators like MACD, RSI, and Bollinger Bands, the stock is likely to face continued selling pressure.
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