Kellogg's $K has been in a bearish mode since late 2016 when price found resistance around $87. After some recovery above $60 in 2018, price continued to drop. Looking at the weekly chart, we can see that price is extending the late 2018 leg of the bearish correction and is threatening a rising trendline support. K Weekly Chart (click to enlarge) Testing Support:- As we can see on the weekly chart, price is already breaking down a key support/resistance pivot area above $55.- It is now threatening to break a rising trendline support as it tests $52.- I think a breakdown is likely.- The next key support will be around $46. - I would anticipate for support here especially if the weekly RSI is under 30 when price approaches $46.- Kellogg's has gone through some structural changes by shedding some business units in 2019. However, it will need some branding revitalization or fade away in a consumer staples sector that will be driven by Millennials as they continue to start families. - Therefore, even if K finds support around $46, I don't have confidence on the upside, especially since it has bucked a multi-year trend. Perhaps, there could be some medium-term upside from $46 to the $55-$58 area. But I would limit the most aggressive outlook to $60 for the medium-term. - In my opinion, Kellogg's is likely to be a bearish-neutral name for a while.