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Possible Bearish Inside Day Candle Pattern Detected for Care.Com Inc (NYSE:CRCM)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Care.Com Inc (NYSE:CRCM) based on the price action in the company's shares. Yesterday's price range of $14.90 and $15.08 is within the prior day'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 Care.Com Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Care.Com Inc has overhead space with shares priced $14.92, or 29.0% below the average consensus analyst price target of $21.00. Care.Com Inc shares should first meet resistance at the 50-day moving average (MA) of $17.41 and find additional resistance at the 200-day MA of $19.43.

Care.Com Inc share prices have moved between a 52-week high of $25.81 and a 52-week low of $13.71 and closed yesterday at 9% above that low price at $14.92 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 4.5%.

Care.com, Inc. provides care services. The Company offers child, adult, senior, pet, and home care services. Care.com serves customers worldwide.

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

Keywords: bearish am inside day candle care.com inc

Ticker(s): CRCM