Possible Bullish Inside Day Candle Pattern Detected for Kroger (NYSE:KR)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kroger (NYSE:KR) based on the price action in the company's shares. Today's price range of $33.22 and $33.79 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. Traders and investors interested in shares of Kroger may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
In the past 52 weeks, shares of Kroger have traded between a low of $20.98 and a high of $35.64 and are now at $33.52, which is 60% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 0.6%.
Kroger (NYSE:KR) is currently priced 1.2% above its average consensus analyst price target of $33.11. The stock should hit resistance at its 50-day moving average (MA) of $34.30, as well as support at its 200-day MA of $28.65.
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 monitoring the recent change of momentum in Kroger. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kroger in search of a potential trend change.
Keywords: bullish inside day candle Kroger