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The Kroger $KR Chart Pattern Spells Trouble

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The Kroger $KR Chart Pattern Spells Trouble

Kroger Co (NYSE:KR) is a leading owner and operator of supermarkets and convenience stores. The stock peaked out on January 31, 2018 at $31.45 a share. Since that pivot top in the stock, the shares have dropped sharply lower. Today, KR stock is trading lower by 0.04 to $23.72 a share. Traders should now note that the stock has been forming a bearish base since March 8, 2018. This pattern will usually signal further downside is coming for the stock in the near term. The next major support level for KR stock will be around the $21.00 area. This important area should be watched closely for a potential bottom in the stock price.





Nicholas Santiago
InTheMoneyStocks

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