Leading manufacturer and marketer of cereal and convenient foods, Kellogg (NYSE:K), traded sharply lower Wednesday after reporting earnings. At one point, Kellogg's (NYSE:K) stock traded lower by 8% to $66.11 per share. The stock is now trading below it's important 200-day moving average, which is generally viewed as a sign of weakness with further downside to come.
Watch This Support
The next key support level for Kellogg stock is around $62. That's where it found defense on June 2 and is where it will likely be supported again when retested. Traders that are looking to get into Kellogg on the long side should watch this area closely.