KFT Analysis for 11.03.2007

KRAFT FOODS - KFT

Monthly chart shows price has been in consolidation.

Weekly chart shows last leg up was met with resistance at the $35 level, where sellers overtook the buyers. While buyers showed up 2 weeks ago to take the stock up to as high as $33.58, they soon saw their profits evaporate as sellers took the price down to test the immediate lows.

The daily chart shows resistance at $35 was also a .618 fib level. Price is currently below all key moving averages. If not already short, a close below the current lows of $32.20 area would be a good area to enter short.