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

By Amy Schwartz

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. Yesterday's price range of $28.89 and $29.03 is within the prior day'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.

In the past 52 weeks, Kroger Co share prices have been bracketed by a low of $20.70 and a high of $29.97 and closed yesterday at $28.99, 40% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

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.

Kroger Co (NYSE:KR) is currently priced 3.0% above its average consensus analyst price target of $28.11. The stock should discover initial support at its 50-day moving average (MA) of $27.05 and subsequent support at its 200-day MA of $24.68.

SmarTrend is tracking the current trend status for Kroger Co and will alert subscribers who have KR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle kroger co

Ticker(s): KR