KR bull trend continues after pullback
I posted on KR just a couple of weeks ago (18th February) making a big case for entering long into this stock if you weren't already in it. The next bar saw price continue to rise - followed by 10 days of pullback!
However, the 50ma held strong (with a hammer reversal candle just below the $70 round number) and any long-term position with a reasonable stop loss would not have been stopped out - and traders are now be seeing a reward for their patience.
This was a deep pullback for KR - which has been trending in a very linear fashion for many months. But not too deep to cause concern. And now price has continued in its uptrend we can see the advances of longer-term trading and a bit of patience.
However, the 50ma held strong (with a hammer reversal candle just below the $70 round number) and any long-term position with a reasonable stop loss would not have been stopped out - and traders are now be seeing a reward for their patience.
This was a deep pullback for KR - which has been trending in a very linear fashion for many months. But not too deep to cause concern. And now price has continued in its uptrend we can see the advances of longer-term trading and a bit of patience.
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Twitter: twitter.com/dynamictrader
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