Earnings play, Kroger Co. $KR reported stronger than expected second quarter,73 cents p/sh beat the consensus of 54 cents p/sh, revenue 30.5 billion topping estimates of a 29.8 billion
Got in because I saw a pattern - big print and big print higher, after each huge print the stock ticks lower for few cents and then move higher, so I caught the wave when bids stopped to get hit on pullback, risk in worst case scenario was below 34.20 area, resistance became a good support. Every time when market was tanking down $KR was holding the bids and continue to trade in its range, 34.65 was PDC level, it had a hard time to get above after the initial sell off below on the open
You actually can see how that 34.20 area works after it sold off of the 35$ area
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-09-11 10:27:50 | KR | buy | $34.370 | long |
2020-09-11 12:08:02 | KR | sell | $35.030 | 0 |
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