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Shares of Kroger Rise Above Previous 52-Week High

By Shiri Gupta

Shares of Kroger (NYSE:KR) traded today at $58.98, breaking its 52-week high. So far today approximately 852,000 shares have been exchanged, as compared to an average 30-day volume of 3.4 million shares.

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.

Kroger has overhead space with shares priced $58.50, or 0.5% below the average consensus analyst price target of $58.78. The stock should discover initial support at its 50-day moving average (MA) of $54.33 and subsequent support at its 200-day MA of $48.51.

Over the past year, Kroger has traded in a range of $35.13 to $58.98 and is now at $58.50, 67% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.9%.

SmarTrend recommended that subscribers consider buying shares of Kroger on February 18th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.44. Since that recommendation, shares of Kroger have risen 55.5%. We continue to monitor KR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Kroger

Ticker(s): KR