Kroger ($KR) Daily: Kroger has been ever so slowly trying to make a move higher, since the big dip it had on the Amazon Whole Foods news. It has been getting support near the $20 level, as i’ve pointed out in my previous posts, and has since moved ever so cautiously higher to $23 in the past week. You can see on the daily chart that the techincals have been slowly rising along with price, but nothing to cheer about if you’re holding the stock – it doesn’t seem to have the kind of momentum that will shoot it up to $30, and i suspect that the longer it moves sideways around these levels, the more susceptible it is to more selling. If in a consolidation, we’d like to see more volume, but that doesn’t seem to be the case.
Weekly chart shows continued weakness, and what remains to be seen is how the stock will do against that 50 week moving average that’s it’s been under in the next few weeks – the inability for the stock to get back above this will keep it under selling pressure and can continue to get at that $15 head and shoulders target that I’ve indicated in my previous post.
Weekly chart shows continued weakness, and what remains to be seen is how the stock will do against that 50 week moving average that’s it’s been under in the next few weeks – the inability for the stock to get back above this will keep it under selling pressure and can continue to get at that $15 head and shoulders target that I’ve indicated in my previous post.