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

By James Quinn

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 $28.44 and $28.57 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.

In the past 52 weeks, shares of Kroger Co have traded between a low of $20.70 and a high of $29.97 and are now at $28.50, which is 38% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

Kroger Co (NYSE:KR) defies analysts with a current price ($28.50) 1.3% above its average consensus price target of $28.11. The stock should discover initial support at its 50-day moving average (MA) of $28.23 and subsequent support at its 200-day MA of $25.18.

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 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 inside day candle kroger co

Ticker(s): KR