KR stock price has been forming a beautiful clean inverse H&S pattern on the daily chart since MAR'19 earnings result gap downThe pattern has a clean cut shoulder line at around 23.70 and head line at 20.70 / neckline sits at 26.10
Stock has broken the neckline on big volume 2 days ago ( on good numbers regarding same stores sales ) and yesterday started what will be most probably the retest of the neckline
MACD very supportive on both daily and weekly charts / RSI at 65 now on daily / 61 on weekly so there is some room to still go up, but that is also why I think we will see a pull back
Look for retest AND SUPPORT at the neckline in order to participate ( keep an eye especially on the WEEKLY close)
Measured target stands at 31.50
Good luck,
TA
Trade closed: target reached
Target reachedCongrats longs
TA
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.