Key Takeaways
- Kroger and Albertsons have pushed back the timeline for a planned merger, citing ongoing dialogue with regulators.
- The news came on the same day that Washington State's attorney general filed a lawsuit to prevent the proposed tie-up between the grocery store operators.
- The Kroger share price may find support near a short-term uptrend line and the 50-day moving average around $45.
澳洲幸运5官方开奖结果体彩网:
Here is a look at a chart tied to recent news, with important technical levels to monitor.
Shares in supermarket chain Kroger (KR) may come under scrutiny Tuesday after the company said that its planned $24.6 billion merger with rival grocery store operator Albertsons Companies, Inc. (ACI) would be delayed due to ongoing discussions with federal and state 澳洲幸运5官方开奖结果体彩网:antitrust regulators. Both companies had initially planned to close the deal in early 2024, but now expect it to finalize in the first half of Kroger’s fiscal 2024. "In light of our continuing dialogue with the regulators, we are updating our anticipated closure timeline," the companies said in a joint statement Monday. Kroger's fiscal first half ends on August 17. U.S lawmakers and the 澳洲幸运5官方开奖结果体彩网:Federal Trade Commission (FTC) have raised concerns that the deal will push up grocery prices, lead to store closures, and result in job losses. The delay came on the same day Washington state’s attorney general filed a lawsuit to prevent the proposed merger, arguing that it will reduce competition and choice within the grocery industry.
Since registering its November 2023 low, the KR share price has continued to grind higher but remains pressured by the 200-day 澳洲幸运5官方开奖结果体彩网:moving average. If the stock retraces from these levels, monitor how it responds to the $45 area where a short-term uptrend line and the rising 50-day moving average may provide support. Conversely, it’s also worth keeping an eye on $50 level where the price could run into resistance from a horizontal line connecting three prominent 澳洲幸运5官方开奖结果体彩网:swing highs over the past nine months.