Yesterday $KR made a topping tail on the daily chart also the weekly chart is very extended at this point. Some news website are still very bullish on this stock as pure technical trader you love this kind of stuff the more bullish amateur traders become on a stock the change is big institutions will run it the other way.
Now how do you play a topping tail like this? You can jump in right away with a stop any close above the topping tail high. I trade topping tails always the same way I wait for a 50% retrace of that tail in this case I am sure my stop loss is a little smaller!
On $KR I am looking on an entry at $34.85, my stop loss on this play $35.23 on a closing basis. On a pullback lock for first target $33.30