Kroger shares close higher on Thursday, company to test driverless grocery delivery in Arizona

Supermarket operator Kroger Company (KR) announced on Thursday that it would begin tests of driverless grocery deliveries with its tech partner Nuro at one Fry’s Food Store located in Scottsdale, Arizona.

The shares of Kroger Company closed higher for the fifth time in the past eight trading sessions in New York on Thursday. The stock went up 1.56% ($0.47) to $30.53, after touching an intraday high at $30.61, or a price level not seen since August 14th ($30.87).

Shares of Kroger Company have risen 11.22% so far in 2018 compared with a 6.25% gain for the underlying index, S&P 500 (SPX).

In 2017, Kroger’s stock retreated 20.46%, thus, it underperformed the S&P 500, which registered a 19.42% return.

During the first phase of the test the company is to utilize a fleet of Toyota Prius vehicles featuring technology provided by Nuro. The vehicles are expected to have seats for human drivers who will be able to override autonomous systems in case an error or emergency occurs.

Additionally, Nuro’s R1 driverless delivery van, in which no seats will be available, is to be tested for the first time during autumn.

Kroger said that self-driving vehicle deliveries taken from Arizonas Fry’s Food Store would cost $5.95, while there would be no minimum amount for orders. The supermarket operator also said the service would be available only to customers located within the store’s zip code of 85257.

According to CNN Money, the 25 analysts, offering 12-month forecasts regarding Kroger Company’s stock price, have a median target of $30.00, with a high estimate of $36.00 and a low estimate of $24.00. The median estimate represents a 1.74% downside compared to the closing price of $30.53 on August 16th.

The same media also reported that 16 out of 27 surveyed investment analysts had rated Kroger Company’s stock as “Hold”, while 10 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Kroger stock are presented as follows:

R1 – $30.59
R2 – $30.66
R3 (Range Resistance – Sell) – $30.72
R4 (Long Breakout) – $30.92
R5 (Breakout Target 1) – $31.14
R6 (Breakout Target 2) – $31.24

S1 – $30.47
S2 – $30.40
S3 (Range Support – Buy) – $30.34
S4 (Short Breakout) – $30.15
S5 (Breakout Target 1) – $29.92
S6 (Breakout Target 2) – $29.82

By using the traditional method of calculation, the weekly levels of importance for Kroger Company (KR) are presented as follows:

Central Pivot Point – $30.14
R1 – $30.66
R2 – $31.19
R3 – $31.71
R4 – $32.24

S1 – $29.61
S2 – $29.09
S3 – $28.56
S4 – $28.04