Technical Signals Point to a Possible Breakout for KROGER CO.

Our stock screener has flagged KROGER CO (NYSE:KR) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:KR for potential movement.

What is the technical picture of NYSE:KR telling us.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to KR. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, KR is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that KR is one of the better performing stocks in the market, outperforming 86% of all stocks.
• KR is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so KR is lagging the market slightly.
• In the last month KR has a been trading in the 57.08 - 63.59 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• KR is an average performer in the Consumer Staples Distribution & Retail industry, it outperforms 64% of 43 stocks in the same industry.
• Volume is considerably higher in the last couple of days.

Check the latest full technical report of KR for a complete technical analysis.

How does the Setup look for NYSE:KR

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:KR this score is currently 8:

Besides having an excellent technical rating, KR also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 58.61, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:KR

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.