Today’s instrument is Kroger, a food retailing company, traded on the NYSE exchange under the ticker KR.
Looking at KR’s chart, we can see its downward trend in the past week, moving from above the level of $52 to the current level of around $47.87. Today if it will manages to hold its price above the support level which is located at around $47.20, we could expect it to rise towards its resistance level at around $49.50 and if not able to pass it, a retraction back to its support level should be expected.
(Click on image to enlarge)
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