$KR inverse H&S breakout on the daily chart #stock #trading$KR stock price has been forming a beautiful clean inverse H&S pattern on the daily chart since MAR'19 earnings result gap down
The 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
4KR trade ideas
$KR Is A Must Own With $BRK.B Long$KR is a stock to own now that the Oracle of Omaha has gone long. The stock has underperformed and is down 2.52% over the past year. For investors looking for defensive positions, we think $KR is one of the best spots to park some money for the long haul. $KR also sports a 2.27% dividend yield and trades at just 12x this year's earnings.
The Kroger Co. operates as a retailer in the United States. The company operates supermarkets, multi-department stores, marketplace stores, and price impact warehouse stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys. The company's marketplace stores offer full-service grocery, pharmacy, health and beauty care departments, and perishable goods, as well as general merchandise, including apparel, home goods, and toys; and price impact warehouse stores provides grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items. It also manufactures and processes food products for sale in its supermarkets; and sells fuel through 1,537 fuel centers. As of September 25, 2019, the company operated 2,759 retail food stores under various banner names, as well as an online retail store. The Kroger Co. was founded in 1883 and is based in Cincinnati, Ohio.
As always, use protective stops and trade with caution.
Good luck to all!
KR EW 3/3 Short PlayOn the 4 year chart, KR, broke out of a bear flag last year in the spring on their ER. Since then it has came back to the same spot for a retest on their next ER in late Feb or early spring. This retest has hallmarks of a corrective wave ending in the 30's. Im leaning short because of the 5 wave pattern when it broke out of the bear flag last year. Until then, Im riding it up to 30 but planning on going out 1 or 2 years on the puts if we get a sell signal in the 30's. There's a good chance we could be embarking on wave 3/3.
Kroger trade into earningsEntry level $27.82 = Target price $29.43 = Stop loss $27.26
Stock is sitting at the average analysts price target so re-rating will follow tomorrows earnings.
4.8% P/E ratio
P/E ratio 13 well below market average
Company profile
The Kroger Co. engages in the operation of retail food and drug stores, multi-department stores, jewellery stores, and convenience stores. It also manufactures and processes some of the food for sale in its supermarkets. The combination food and drug Stores are the primary food store format. The multi department stores sells a wide selection of general merchandise items such as apparel, home fashion and furnishings, electronics, automotive products, toys and fine jewellery. The marketplace stores offer full-service grocery and pharmacy departments as well as an expanded general merchandise area that includes outdoor living products, electronics, home goods and toys. The price impact warehouse stores offer a 'no-frills, low cost' warehouse format and feature everyday low prices plus promotions for a wide selection of grocery and health and beauty care items. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.
$KR 12-1 AnalysisPowerful move few weeks back with rebranding in place. Investors looking for a strong earnings report to see move back to 200MA on weekly. Has been rejected prior in 2018 and start of 2019. If can reclaim that look for a big move to $31-32 levels!
Good closes above 200EMA these past few weeks showing strength after the rebranding also with only a minor selloff from highs.
KR LONGKroger Inc. did take a small hit when Amazon said they were going to "free delivery" to their Prime Food Customers. Kroger Inc., however is not giving up. Kroger has plans to roll out an additional 58 plant based items to add to their 22 that they have already have on their own label since the beginning of the year. They have teamed up with Home Chef, to expand their meal kit offerings. Kroger provided all this information and financial analysis this morning and investors loved it, the stock has already $2.86 today.
KR Potential Long 5th Wave Swing Trading OpportunityUsing our Elliott Wave Indicator Suite for the TradingView platform we have identified a potential Long Swing Trading opportunity for KR on the Daily timeframe.
Wave 4 pull back has found support in our Amber pullback zone, which represent an 80% probability of our automated 5th wave target zone at $27.75 being hit. The Stochastic has crossed in the oversold zone against false breakout dots in overbought zone and Elliott Wave Oscillator has just moved below 90%. These three combined present a high probability move for this potential long swing trading opportunity.
Entry and Stop loss on our chart...
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