Taking on the Supermarket Bully Bears

364 views

Supermarket player Kroger has been a chronic laggard, in a downtrend since 2007. Looking at the first chart below of the daily timeframe, KR is sporting a nice technical base above all moving averages. On its face, it is a decent chart but nothing to get too giddy about, especially given the chronic underperformance.

Zooming out to the weekly timeframe on the second chart, though, we can see that Kroger is bull flagging right under its major resistance trendline. A break and hold above $24 raises the specter of a major move here. Watch for a weekly close above this level.

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2 Responses to “Taking on the Supermarket Bully Bears”

  1. […] far. In addition, as a bright spot, consider the long-temr breakout in Kroger holding true. Recall this blog post from October 1st of this year where I pointed out the potential. Below, you will find an updated […]

  2. […] looked at supermarket player Kroger as a long-term investment idea back on October 1st, 2012, in this blog post. The stock was trading at $23.77, and we surmised that the multi-year symmetrical triangle pattern […]

Comments are closed.
Previous Posts by chessNwine

Taking on the Supermarket Bully Bears

364 views

Supermarket player Kroger has been a chronic laggard, in a downtrend since 2007. Looking at the first chart below of the daily timeframe, KR is sporting a nice technical base above all moving averages. On its face, it is a decent chart but nothing to get too giddy about, especially given the chronic underperformance.

Zooming out to the weekly timeframe on the second chart, though, we can see that Kroger is bull flagging right under its major resistance trendline. A break and hold above $24 raises the specter of a major move here. Watch for a weekly close above this level.

________________________________

________________________________

2 Responses to “Taking on the Supermarket Bully Bears”

  1. […] far. In addition, as a bright spot, consider the long-temr breakout in Kroger holding true. Recall this blog post from October 1st of this year where I pointed out the potential. Below, you will find an updated […]

  2. […] looked at supermarket player Kroger as a long-term investment idea back on October 1st, 2012, in this blog post. The stock was trading at $23.77, and we surmised that the multi-year symmetrical triangle pattern […]

Comments are closed.