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Kroger (KR) Crosses Pivot Point Resistance at $28.86

Published on Wed, 02/27/2013 - 10:39
By Peter Chu

Shares of Kroger (NYSE:KR) opened today above their pivot of $28.61 and have already reached the first level of resistance at $28.86. Analysts will be watching for a cross of the next upside pivot targets of $29.00 and $29.39.

The Kroger Co. operates supermarkets and convenience stores in the United States. The Company also manufactures and processes some of the foods that its supermarkets sell.

Kroger share prices have moved between a 52-week high of $29.00 and a 52-week low of $20.98 and are now trading 38% above that low price at $28.92 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

Kroger (NYSE:KR) defies analysts with a current price ($28.92) 2.2% above its average consensus price target of $28.29. The stock should discover initial support at its 50-day moving average (MA) of $27.12 and subsequent support at its 200-day MA of $24.24.

By Peter Chu
pchu@fnno.com