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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kroger Co (NYSE:KR) based on the price action in the company's shares. Today's price range of $28.90 and $29.02 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. Owners of Kroger Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Kroger Co share prices have been bracketed by a low of $20.70 and a high of $29.97 and are now at $29.02, 40% above that low price. The 200-day and 50-day moving averages have moved 0.26% higher and 1.02% higher over the past week, respectively.

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 Co (NYSE:KR) is currently priced 3.1% above its average consensus analyst price target of $28.11. The stock should find initial support at its 50-day moving average (MA) of $26.96 and further support at its 200-day MA of $24.66.

SmarTrend is tracking the current trend status for Kroger Co and will alert subscribers who have KR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle kroger co

Ticker(s): KR