KHC stock rose on November 5, 2021, after the news was reported that global food prices have hit a record high. Bullish option flow was detected.

Bullish Option Flow

Make sure to review this lesson on option flow so that you understand the image above.

Global Food Prices Hit Record High In October

In October, global food prices continued climbing higher for the third straight month, hitting fresh decade highs, led by vegetable oils and cereals. Higher food costs contribute to more inflationary pressures for the working poor, central banks, and governments.

Kraft Heins Q3 2021 Report

On October 27, 2021, Kraft Heinz reported Q3 adjusted EPS of 65c versus the consensus estimate of 58c. The company reported Q3 revenue of $6.32B versus the consensus estimate of $6.05B.

“I am incredibly proud of our Kraft Heinz team for delivering another quarter of results that exceed our expectations, even as we face the ongoing challenges of the pandemic and, now, escalating inflation,” said Kraft Heinz CEO Miguel Patricio. “We are effectively adapting to near-term challenges while transforming our business and rejuvenating our iconic brands to better serve consumers for the long term. We still have much to do, but our momentum is strong and our strategy to bring agility to our scale is working, which is why we are increasing full-year expectations.”

KHC Stock Technical Analysis

Although the technical rating is only medium, KHC does present a nice setup opportunity. Large players volume is strong. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 37.2. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.06, a stop order could be placed below this zone.

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