Kroger (KR-N) declined from $62.78 to $41.82 in 2022 (A-B) and then settled in a horizontal trading range mostly between $42 and $51 from late-2022 to early-2024 (dashed lines). The stock had a breakout form this range in March (C), pulled back to the 40-week Moving Average near former resistance (D) and has since exceeded the previous high to confirm the start of a new uptrend.
Behavior indicators including the rising 40wMA and the rising trendline (solid line) confirm the bullish status. There is good support near $55-56; only a sustained decline below this level would be negative.
Point & Figure measurements provide targets of $66 and $72. Higher targets are visible.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com