KR fails to close above 100-day moving average
Moving higher for the 5th day in a row, KR ended Thursday at 25.30 gaining $0.36 (1.44%) on high volume. Today's closing price of 25.30 marks the highest close since April 27th. Trading $0.68 higher after the open, Kroger Co. was unable to hold its gains as the bears took control ending the day below its opening price. Closing above Wednesday's high at 25.06, the market confirms its breakout through the prior session's high having traded $1.31 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was $1.19 (4.63%), that's far above last trading month's daily average range of $0.66. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 26.04, the stock closed below it after spiking as high as 26.37 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 26.37 during the day, the share found resistance at the 100-day moving average at 26.24.
While KR is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
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.
|Strong Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Closed above last periods high||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
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