The Greedy Trader Weekly Analysis
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Yearly Pattern:Broadening Descending Wedge
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Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation Pattern appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

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- 3/15/2024 -
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Kroger Co. (KR) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtThe Bollinger Bands are historically far apart
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It was a fifth consecutive positive week for the Kroger Co. (KR). During the week, the KR climbed 0.09 points, or 0.16%, and closed at 56.06 on Friday, March 15, 2024. Weekly volume was 9% above average.

Long-term trend: [See KR long-term trend chart]
A long-term uptrend had started on October 2, 2017 at 19.69 and reached 62.78 on April 8, 2022. KR gained -43.09 points, or -218.84%, in 235 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23.31 and resistance is at 78.90. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See KR medium-term trend chart]
A medium-term downtrend had started on December 1, 2022 at 50.41 and reached 42.10 on November 17, 2023. KR lost 8.31 points, or 16.48%, in 50 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (41.88) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. KR may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See KR weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 15, 2023. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See KR short-term trend chart]
A short-term uptrend had started on November 17, 2023 at 42.10 and reached 56.44 on March 15, 2024. KR gained -14.34 points, or -34.06%, in 119 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (46.05) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See KR daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.

The distance between the Bollinger Bands (24.55%) is close to one year high (19.65%). It is 242.63% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.37
Overbought
Williams' Percentage Range (W%R) 12.10
Overbought
Lane's Stochastic (%D-Slow) 92.16
Strong Overbought
Greed/Fear Indicator (GFI) 88.15
Overbought
Moving Average Converg./Diverg. (MACD) 1.94
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 89.81
Overbought
Williams' Percentage Range (W%R) 8.10
Strong Overbought
Lane's Stochastic (%D-Slow) 85.13
Overbought
Greed/Fear Indicator (GFI) 82.01
Overbought
Moving Average Converg./Diverg. (MACD) 0.24
Trading Signals
Description Value Chart
Upper Bollinger Band 58.62
Price 56.06
Daily Stochastic Crossing 56.00
Weekly Stochastic Crossing 55.17
Parabolic System 54.60
20 Day Moving Average 51.06
Monthly Trendline Resistance 49.50
Weekly Trendline Resistance 49.10
50 Day Moving Average 48.04
Weekly Trendline Support 46.05
Lower Bollinger Band 44.85
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Food Retail 119
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 44.48
Low Date 02/07/2024
High 56.44
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 49.10
Support 46.05
Low 42.10
Low Date 11/17/2023
High 56.44
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 49.50
Support 41.88
High 50.41
High Date 12/01/2022
Low 42.10
Low Date 11/17/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 62.78
High Date 04/08/2022
Low 41.82
Low Date 10/17/2022
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 78.90
Support 23.31
Low 19.69
Low Date 10/02/2017
High 62.78
High Date 04/08/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.