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Possible Bearish Inside Day Candle Pattern Detected for 2U Inc (NASDAQ:TWOU)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in 2U Inc (NASDAQ:TWOU) based on the price action in the company's shares. Today's price range of $18.16 and $18.58 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of 2U Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

2U, Inc. operates as an education technology company in the United States, Hong Kong, South Africa, and the United Kingdom. The company operates through two segments, Graduate Program Segment and Short Course Segment.

2U Inc has overhead space with shares priced $18.26, or 81.3% below the average consensus analyst price target of $97.64. The stock should find initial resistance at its 50-day moving average (MA) of $30.55 and further resistance at its 200-day MA of $50.46.

In the past 52 weeks, 2U Inc share prices have been bracketed by a low of $11.37 and a high of $90.31 and are now at $18.26, 61% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 3.2%.

SmarTrend is monitoring the recent change of momentum in 2U Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of 2U Inc in search of a potential trend change.

Keywords: bearish inside day candle 2u inc

Ticker(s): TWOU