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Kellogg is the top gainer in the S&P 500 Index following this morning’s solid earnings report: Kellogg (K) Q1 Earnings and Revenues Surpass Estimates – May 6, 2021 – Zacks.com This powerful move is driving shares to new 2021 highs as it extends the gain off the Feb/Mar lows to 20%.  Volume is running very hot in the early going and is already above the 50D average.  We expect more upside for K.  

K’s big March rally lifted the stock into overbought territory(daily/MACD).  The stock spent the month of April consolidating in a narrow range without giving up much ground.  Shares are now well below their overbought levels as May begins. 

No position.