Kellogg Co’s Q4 earnings rose 23% as the cereal maker posted stronger-than-expected sales growth driven largely by higher prices. The company, which in addition to cereals like Rice Krispies makes products like Pop-tarts breakfast pastries, Nutri-Grain snack bars and Eggo waffles, continues to expect sales in 2012 to be above the previous year, as higher prices will boost the top line.

For the quarter, Kellogg reported a profit of 232 million dollars, or 64 cents per share, up from 189 million or 51 cents a year earlier. Sales jumped 5.4% to 3.02 billion and operating margin rose of 13.2%. The company announced an increase of investment on the supply chain, and that seems to be working. Kellogg reaffirmed its guidance of annual revenue up 4 to 5 percent.

The technical configuration shows an important gap in November following by a strong volatility period. The recent upward movement could be the beginning of a mid-term trend on the way to the 53.1 USD, level of the current long term resistance. Thomson-Reuters consensus fixes an objective at 53.3 USD.

The most offensive investors may take a buying position on the crossing of the 51.55 USD. A first objective will be fixed on 53.1 USD, and by extension at 55 USD. A stop loss will be fixed at 50 USD, below the 50 days moving average.