Kroger: Potential 240M CD leg up for +40% upside

The US consumer staples sector is the worst performing sector YTD and poor old Kroger is -50% over 2 years. Think Kroger has completed a downside ABCD and has made a higher high which is setting up for a CD leg up to $34 region. The broader equity market looks like it is losing steam and it is time to look for defensive. You still buy your milk and bread from the grocer, nothing has changed even with AMZN buying out Whole Foods. Remember Webvan? Cos I do and so far, I have not seen a company make money on cold chain same day delivery. Buy bonds buy Kroger period.