Kellogg (K) stock peaked at $72 in July 2020. Since then, the stock has fallen to $57 (-20%) in 2021. The underperformance put the stock on our radar in January 2021 (yellow arrow). Stock has been trading in range since and appears to be breaking out of that range today. Such action is bullish to a technician or chart readers. Fundamentally, the stock is undervalued based on our 10-year target. The two forces, fundamental & technical, appears to be in alignment with one another. It will be good to revisit Kellogg after 6 months or a year to review how this situation turn out.
