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Watch for Shares of Kroger Co (KR) to Approach Support at $23.64

By Nick Russo

Shares of Kroger Co (NYSE:KR) have bearishly opened below the pivot of $24.11 today and have reached the first support level of $23.82. Investors may be interested in a cross of the next downside pivot targets of $23.64 and $23.17.

Potential upside of 26.2% exists for Kroger Co, based on a current level of $23.80 and analysts' average consensus price target of $30.02. The stock should find initial resistance at its 50-day moving average (MA) of $37.55 and further resistance at its 200-day MA of $37.98.

In the past 52 weeks, Kroger Co share prices have been bracketed by a low of $19.69 and a high of $37.97 and are now at $23.80, 21% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 0.69% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Kroger Co on February 9th, 2018 by issuing a Downtrend alert when the shares were trading at $27.33. Since that call, shares of Kroger Co have fallen 12.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts kroger co

Ticker(s): KR