• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for American Capital (NASDAQ:ACAS)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in American Capital (NASDAQ:ACAS) based on the price action in the company's shares. Today's price range of $12.28 and $12.47 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 American Capital may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

American Capital Ltd. is an alternative asset manager. The Company, directly and through its global asset management business, invests in employee and management buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides debt and equity to fund growth, acquisitions, recapitalizations, and securitizations.

American Capital (NASDAQ:ACAS) has potential upside of 35.8% based on a current price of $12.47 and analysts' consensus price target of $16.93. The stock should run into initial resistance at its 50-day moving average (MA) of $13.36 and subsequent resistance at its 200-day MA of $14.20.

American Capital share prices have moved between a 52-week high of $16.10 and a 52-week low of $11.92 and are now trading 5% above that low price at $12.47 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.3%.

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

Keywords: bearish inside day candle american capital

Ticker(s): ACAS