• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Aramark (NYSE:ARMK)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aramark (NYSE:ARMK) based on the price action in the company's shares. Today's price range of $30.22 and $30.32 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 Aramark may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Aramark provides food and facilities management services. The Company offers uniform, refreshments, work apparel, and cleanroom services to healthcare institutions, universities, school districts, stadiums, and businesses. Aramark serves clients worldwide.

In the past 52 weeks, Aramark share prices have been bracketed by a low of $27.37 and a high of $43.70 and are now at $30.22, 10% above that low price. The 200-day and 50-day moving averages have moved 0.36% lower and 0.18% higher over the past week, respectively.

There is potential upside of 58.0% for shares of Aramark based on a current price of $30.22 and an average consensus analyst price target of $47.75. The stock should run into initial resistance at its 50-day moving average (MA) of $31.37 and subsequent resistance at its 200-day MA of $36.41.

SmarTrend is tracking the current trend status for Aramark and will alert subscribers who have ARMK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle aramark

Ticker(s): ARMK