KR finds buyers at key support level

Kroger Co. (KR) Technical Analysis Report for Jul 13, 2018

Highlights

KR finds buyers at key support level
KR fails to close above 20-day moving average
KR finds buyers again around 27.83
KR closes within previous day's range
KR ends the day indecisive

TQ Sentiment

Report Sentiment:
42% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

KR finished the week -3.67% lower at 28.05 after gaining $0.10 (0.36%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for KR

Volatility

Friday's trading range was $0.62 (2.23%), that's slightly below last trading month's daily average range of $0.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Price Action

Despite a weak opening Kroger Co. managed to close above the prior day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

After trading as low as 27.83 during the day, the share bounced off the key support level at 27.86. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move lower than 27.76 in the previous session, the market found buyers again around the same price level today at 27.83. After spiking up to 28.45 during the day, the stock found resistance at the 20-day moving average at 28.14.

Trend

Although KR is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 27.64 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Kroger Co.

Loading Market Conditions for $KR (Kroger Co.)...
Latest Report:

KR finds buyers again around 29.45

Sep 24, 2018
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