Nice topping behaviour after a long term extended uptrend. I want to see a lower open tomorrow to even consider shorting this, this just looked good so I thought I'd publish it.
Beware, this was an extended uptrend, so bulls have been around long term. You want to find good confirmation to short something like this. I am expecting if we manage to find a short...
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...
KR is a stock I have been trading for some time - but it still offers a great opportunity if entering for the first time now.
KR first came on to my radar in 2013 as it had begun to trend well. But we needed price to take out the 1999 high ($34.91) which it did in about July 2013. After the retest it looked safe to enter but unfortunately there was a second, deep...
