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KR fails to close above 100-day moving average


Technical Analysis Report for KR - May 17, 2018 [1 min read]
Highlights
KR closes below its opening price unable to hold early session gains
KR unable to break through key resistance level
KR fails to close above 100-day moving average
KR closes higher for the 5th day in a row
KR pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

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.

Daily chart for KR
Volatility

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.

Support/Resistance

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.

Trend

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.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R2 TQ Pro Members Only
Bearish Bounce off SMA 100 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

KR breaks below 20-day moving average

May 21, 2018
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