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Possible Bearish Inside Day Candle Pattern Detected for Kroger Co (NYSE:KR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kroger Co (NYSE:KR) based on the price action in the company's shares. Today's price range of $27.55 and $27.73 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Kroger Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 1.5% exists for Kroger Co, based on a current level of $27.70 and analysts' average consensus price target of $28.11. Kroger Co shares have support at the 50-day moving average (MA) of $25.86 and additional support at the 200-day MA of $24.53.

Kroger Co share prices have moved between a 52-week high of $30.40 and a 52-week low of $20.70 and are now trading 34% above that low price at $27.70 per share. The 200-day and 50-day moving averages have moved 0.08% lower and 0.38% higher over the past week, respectively.

The Kroger Co. operates supermarkets and convenience stores in the United States. The Company also manufactures and processes some of the foods that its supermarkets sell.

SmarTrend recommended that subscribers consider buying shares of Kroger Co on August 26th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.67. Since that recommendation, shares of Kroger Co have risen 17.6%. We continue to monitor KR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle kroger co

Ticker(s): KR