Looks like Kroger still has some upward potential before the flame starts running out. I am expecting K to make it up to the 100% Retracement before coming back down to reality. Kroger certainly will have an increase in sales with the panic shopping. However, I believe as #'s of confirmed cases increase, people will be going to the store less and less. Everyone is stocked up for now and using online options as much as possible. Plus, the thousands of people who may have been laid off or losing hours are not rushing out to the store. I think K is a great company and the chart speaks volumes for the long term potential. However, for the swing traders out there, this is an obvious move with the current market volatility. Hope to see a dip with the option expiration fest tomorrow morning (3/20) before closing green EOD.
Kommentera:
Will also buy put options around 30ish for April expiration.