• Return to Headlines

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

By David Diaz

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 $23.47 and $23.62 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) has potential upside of 19.0% based on a current price of $23.62 and analysts' consensus price target of $28.11. The stock should hit resistance at its 200-day moving average (MA) of $25.80, as well as support at its 50-day MA of $22.26.

Kroger Co share prices have moved between a 52-week high of $32.74 and a 52-week low of $20.70 and are now trading 14% above that low price at $23.62 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.5%.

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 its subscribers protect gains by selling shares of Kroger Co on December 6th, 2018 by issuing a Downtrend alert when the shares were trading at $28.72. Since that call, shares of Kroger Co have fallen 17.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle kroger co

Ticker(s): KR