There is a chance that EMP valuation goes down to lower 30s as inflation and high prices will impact customers.
As coronavirus pandemic spreads, consumers will continue to work at home and eat-at-home. Prime beneficiaries will be grocers. Sobeys in Canada (owned by Empire Company) is also reducing costs rapidly and has a 'smaller' store format strategy across Canada. Synergies from its acquisition of Safeway's Canada stores continue.
Going short on a break of a long term level along with a short term ascending trend line. - 34EMA has started to turn over, showing a possible change in trend - RSI showing long term bearish divergence - MACD bearish and soon to go negative - Weekly chart looking very bearish Profit target at the next support level
-Weekly Chart -Price moving within descending channel -Buy approx 15.70 -Sell approx 18.40