• Return to Headlines

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

By Nick Russo

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 $29.88 and $30.27 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.

Kroger Co (NYSE:KR) is currently priced 6.8% above its average consensus analyst price target of $28.11. The stock should discover initial support at its 50-day moving average (MA) of $28.46 and subsequent support at its 200-day MA of $25.29.

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.

Over the past year, Kroger Co has traded in a range of $20.70 to $30.73 and is now at $30.17, 46% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

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 28.1%. 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