Stocks quoted in this article:
One equity steering clear of the broader-market carnage this afternoon is Kroger (KR - 19-5/8
), the largest grocer in the United States. Earlier today, a major brokerage firm announced rather aggressive price targets on KR, as well as on its chief competitor, Safeway (SWY - 34-3/16
). This news coincided with a sideways consolidation of KR shares into their 10-day moving average. Today, the stock rebounded higher off of this ascending short-term trendline. At 3:15 p.m., the equity was trading 3.6 percent higher.