Kroger ( KR) reported an earnings and revenue beat Thursday morning along with a lift to guidance but prices are getting dragged lower with weakness in the broader market.
In our June 2 review of KR we recommended that "Traders could go long KR at current levels risking to $46. On the upside $62, then $100, and maybe $146 are our price targets." Prices dipped down towards the 200-day moving average Thursday morning and are off their early lows. 
In thr daily bar chart of KR, below, we can see how buying dips to the 200-day line has produced positive results. Prices are below the declining 50-day moving average line but above the 200-day line.
The On-Balance-Volume (OBV) line shows improvement from the middle of May. The Moving Average Convergence Divergence (MACD) oscillator is bearish but a cover shorts buy signal was given in May.
In the weekly Japanese candlestick chart of KR, below, we can see a lower shadow in the last test of the rising 40-week moving average line. Hopefully this week's candle gives us a similar signal.
The weekly OBV line is pointed down and the MACD oscillator too.
In this daily Point and Figure chart of KR, below, we can see a downside price target in the $32 area but a trade at $46 is needed to weaken this chart. A trade at $54 should improve the picture.
Bottom-line strategy: Traders who have bought KR on weakness should continue to hold those longs risking to $46.
