norok

"A stock is never to high to buy" - Kroger patience

Long
NYSE:KR   Kroger Company (The)
For more than a year I have been watching Kroger NYSE:KR stock. I stop there every time I buy groceries so it is one of those companies that fall under "Cupboard Investing" in stocks you know and use. For something as mundane as selling groceries it is quite a volatile stock.

The history really begins in 2020 when a member of my Discord who is very bullish the stock got me interested. Kroger had a big earnings dip on December 2020 and I hesitated to pull the trigger. I prefer to only enter any instrument on an indicator defined setup. Entering on the drop would have just been a "gut trade" on my bullish bias. So I waited. For reasons unknown the stock got a massive RIP in January during the Meme Stock Madness that month. Clearly I had missed the run. So I waited.

It took 10 months until October 2021 before on my daily scans I finally saw KR with a bullish Spike Alert. It fit my rules for happening at a 50% Retracement Level so I went in. The trade played out to the first target with no problems and I left on shares for the long term position I desired.

Patience pays off. Do just jump into a stock on FOMO. You'll always get an opportunity even if it takes months of disciplined waiting if you are diligent.

"Be to others the person you needed to meet 10 years ago"

Discord Trading Community: https://discord.gg/eDfhKvS5AC
Youtube: https://www.youtube.com/c/NoroksNotepad
Twitter: @noroktrade

Related Ideas

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.