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Possible Bearish Inside Day Candle Pattern Detected for Grand Canyon Education (NASDAQ:LOPE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Grand Canyon Education (NASDAQ:LOPE) based on the price action in the company's shares. Yesterday's price range of $40.39 and $40.93 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 Grand Canyon Education may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Grand Canyon Education, Inc. provides online post secondary education services. The Company offers graduate and undergraduate degree programs in disciplines of education, business, and healthcare.

Grand Canyon Education has overhead space with shares priced $40.42, or 18.1% below the average consensus analyst price target of $49.33. The stock should hit resistance at its 50-day moving average (MA) of $42.48, as well as support at its 200-day MA of $39.60.

Over the past year, Grand Canyon Education has traded in a range of $31.12 to $45.17 and closed yesterday at $40.42, 30% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

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

Keywords: bearish am inside day candle grand canyon education

Ticker(s): LOPE