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Possible Bearish Inside Day Candle Pattern Detected for Enova Internatio (NYSE:ENVA)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Enova Internatio (NYSE:ENVA) based on the price action in the company's shares. Yesterday's price range of $25.03 and $25.03 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 Enova Internatio may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Enova Internatio share prices have been bracketed by a low of $17.85 and a high of $39.00 and closed yesterday at $25.06, 40% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.4%.

Enova Internatio (NYSE:ENVA) has potential upside of 20.9% based on a current price of $25.06 and analysts' consensus price target of $30.30. Enova Internatio shares should encounter resistance at the 200-day moving average (MA) of $27.90 and support at the 50-day MA of $23.85.

Enova International, Inc. offers online financial services to people who have bank accounts but have limited access to traditional consumer credit from banks, thrifts, credit card companies and other lenders. The Company offers short-term consumer and installment consumer loans in the United States, the United Kingdom, Australia, and Canada.

SmarTrend recommended that subscribers consider buying shares of Enova Internatio on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.26. Since that recommendation, shares of Enova Internatio have risen 19.8%. We continue to monitor ENVA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle enova internatio

Ticker(s): ENVA