Shares of Kraft Heinz Company (KHC) have been one of the worst performers in 2019, down 40%. Since 2018 Kraft Heinz has collapsed over 60%. Based on the recent mult-factor chart alerts, 2020 may be a banner year for the company. Kraft Heinz will likely be one of the best performers in the S&P.
The multi-factor chart alert starts with a classic bull flag on the daily chart. Going into year end, this tells smart investors and stock traders there is major accumulation going on to offset the end of year tax loss selling. In addition, price is trading just above the 20, 50 and 200 daily moving averages. Bull flags that form just above these moving averages have a 80% success rate of playing out. This stock chart pattern is extremely bullish for a sharp move higher in January 2020.
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The next factor is even more impressive. It signals a first quarter or even first half of 2020 move higher. There is an inverse head and shoulder pattern. The inverse head and shoulder pattern is extremely bullish for major upside when the neck line is breached. The neck line will be breached when the bull flag breaks out above $33.40. Once this happens, the stock has upside to $48.00. This is my 2020 target price.