Are you tired of following the latest AI-fueled growth stories and looking for opportunities in more defensive areas of the market? At Extreme Investor Network, we believe in finding hidden gems in the stock market that may have been overlooked by the masses.
One compelling opportunity we are currently monitoring is Kroger Co. (KR). While the stock has underperformed for much of 2024, recent price and momentum improvements are creating powerful setups with significant upside potential.
We have identified a bullish cup-with-handle pattern on the daily chart, with a breakout above $57.50 signaling a potential buying opportunity. The weekly chart shows a larger cup-with-handle pattern dating back to early 2022, with clear resistance in the $57-59 range. Both charts indicate an impending breakout and potential for a bullish trend reversal.
Our analysis doesn’t stop at technical chart patterns. We also consider key indicators like the RSI, which has been in a bullish range for the past few years, reinforcing the upside potential for Kroger stock. By utilizing a multi-time frame approach, we aim to provide our members with a comprehensive view of potential investment opportunities.
At Extreme Investor Network, we understand the importance of thorough research and analysis when it comes to investing. Our team of experts is dedicated to providing valuable insights and actionable recommendations to help you navigate the stock market successfully.
Disclaimer: The opinions expressed in this article are solely those of Extreme Investor Network and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates. This content is for informational purposes only and should not be considered as financial, investment, tax, or legal advice. Before making any financial decisions, we recommend consulting with a professional financial advisor.