Taking on the Supermarket Bully Bears

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.

________________________________

________________________________