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  • Swing Trade Idea (KR) – August 30, 2022

    Aug 30, 2022 Swing Options Tips Comments Off on Swing Trade Idea (KR) – August 30, 2022

    Our bearish trade for Tuesday, August 30th is The Kroger Co. (KR). KR is part of the Consumer Staples Sector, which has found resistance at a multi-month key level, with KR following suit while performing at -3.63% over the last week.

    KR has found resistance at a long-term key level of $50, as strength decreased. With the next support at $46, we expect KR to continue retracing towards that level. This provides a good risk/reward bearish entry. 

    As a close, if KR were to trade below $50 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves below $0.57.

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