Today, the leading consumer packaged food and beverage company Kraft Foods Group, Inc. (NASDAQ:KRFT) is dropping by $2.31 to $54.93 a share. While this decline may not seem like much it should be noted that the stock has been dropping since July 8th when it traded as high as $61.10 a share. Kraft Foods Group stock is now trading below the important 200-day moving average. This is a very psychological breakdown for many money managers and traders. Short term day traders should be aware that there will be very good intra-day support around the $53.90 area. This is a spot where day-traders can look for an intra-day bounce.
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Nick Santiago
Chief Market Strategist
www.InTheMoneyStocks.com