Struggling Grocery Stock Could Continue to Chop Lower

Grocery store chain Albertsons Companies Inc (NYSE:ACI) is 3% lower to tr, extending its long-term choppy price action on the charts. The shares have struggled since hitting a 12-month high of $23.20 on April 3, and are now clinging to their 5% year-to-date gain. More losses may be in store, too, as the equity nears a historically bearish trendline.Per Schaeffer's Senior Quantitative Analyst Rocky White, ACI is now within 0.75 of the 200-day moving average's 20-day average true range (ATR), after remaining ...