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SmarTrend Watching for Potential Rebound in Shares of Kroger Co After 10.20% Loss

By Shiri Gupta

Kroger Co (NYSE:KR) traded in a range yesterday that spanned from a low of $28.30 to a high of $29.18. Yesterday, the shares fell 10.2%, which took the trading range below the 3-day low of $31.09 on volume of 20.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Kroger Co has traded in a range of $19.69 to $32.74 and is now at $28.50, 45% above that low. The 200-day and 50-day moving averages have moved 0.48% higher and 0.66% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Kroger Co on June 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.32. Since that recommendation, shares of Kroger Co have risen 20.6%. We continue to monitor KR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders kroger co

Ticker(s): KR