On the daily chart, KHC has what I call an aDL (almost Divergent Low) with prices making a lower low & the indicators (PPO & RSI) “almost” making equal lows (which would qualify as positive divergence) but both making just slightly lower lows.

Quite often, those aDL’s & aDH’s do precede or accompany trend changes & might this time around as so far, KHC reversed right around that Oct 2023 major reaction low. As such, a case could be made to go long here with a stop not too far below the recent lows with initial price targets around 34 & 36.30.

The last time I covered KHC it was highlighted as a short trade setup with a sell signal to come on a break of that uptrend line in late 2022. That proved to be a monster short. Not that we pressed it all the way down but the stock has been cut by nearly a third since then & just hit a new low from that sell signal. Here are the last two updated I posted on KHC, which appears to quite likely have come full circle since then along with a screenshot of my updated daily chart below.:

https://youtu.be/WK1WvmTbYJ0?si=dO6pOLJDLToaW1xl&t=2003

https://youtu.be/P9yWyG_eYtk?si=l6AlIt3LGV6Czk07&t=1740