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Kraft Foods - KFT - close: 30.06 chg: +0.57 stop: 28.89

Company Description:
Kraft Foods is the largest branded food and beverage company headquartered in the United States and the second largest worldwide. Kraft Foods markets many of the world's leading food brands, including Kraft cheese, Jacobs and Maxwell House coffees, Nabisco cookies and crackers, Philadelphia cream cheese, Oscar Mayer meats, Post cereals and Milka chocolates, in more than 155 countries. (source: company press release or website)

Why We Like It:
KFT looks like a bullish candidate purely on technicals. The stock has been climbing this month and pushed through major resistance at its one-year trendline of lower highs today. If this is the beginning of a trend change we want in on it since KFT is so long-term oversold. We do expect a dip so patient traders might want to wait for a pull back toward $29.50 again and evaluate new long positions there. We'll put our stop under last week's lows to limit our risk. KFT is due to report earnings in mid January so we'll plan on holding the play until then. Our target is the $32.50 mark.

Picked on November 23 at $30.06
Change since picked: + 0.00
Earnings Date 01/17/06 (unconfirmed)
Average Daily Volume: 1.6 million
 

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