The Kroger Co. (NYSE:KR) fell by -1.98% in Thursday’s trading session from $21.70 to $21.27 The stock price went upward in 7 of the last 10 days, but has retreated -4.19% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -1.02 million shares and in total 11.22 M shares exchanged hands for about $238.76 million.
Inside KR’s Recent Trend
The Kroger Co. (KR) lies in the lower of a wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down through the resistance trend line at $20.86 will initially point to a quick declining speed. Short-term traders are anticipated to see a retreat of -4.30% over the course of a quarter and, with 90% chance the price will be floating in the range of $19.96 and $23.07 in this timeframe.
The Kroger Co. Technical Signals
KR has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $21.75 and $22.89. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday September 13, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.
The Kroger Co. (NYSE:KR) Support And Resistance Levels
The Kroger Co. (KR) recorded volume accumulation so there will probably be a surplus of buyers at $21.10. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $22.29, $22.77 and $24.56.
Accumulated volume is going to prevent the price from rising further at $22.29 and this action will lead the price to take a temporary pause or stay muted for a few days.
The Kroger Co. (KR) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.71 (3.36%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 3.49%.