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

By David Diaz

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 $40.92 and $41.21 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, Kroger share prices have been bracketed by a low of $27.32 and a high of $42.75 and are now at $41.06, 50% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

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.

There is potential upside of 2.9% for shares of Kroger based on a current price of $41.06 and an average consensus analyst price target of $42.26. Kroger shares have support at the 50-day moving average (MA) of $39.49 and additional support at the 200-day MA of $37.52.

SmarTrend recommended that subscribers consider buying shares of Kroger on September 15th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.12. Since that recommendation, shares of Kroger have risen 9.9%. We continue to monitor KR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Kroger

Ticker(s): KR