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Possible Bearish Inside Day Candle Pattern Detected for K12 Inc (NYSE:LRN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in K12 Inc (NYSE:LRN) based on the price action in the company's shares. Yesterday's price range of $31.84 and $32.57 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 K12 Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, K12 Inc has traded in a range of $16.06 to $37.43 and closed yesterday at $31.91, 99% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.9%.

K12 Inc (NYSE:LRN) is currently priced 33.1% above its average consensus analyst price target of $21.33. K12 Inc shares should encounter resistance at the 50-day moving average (MA) of $32.93 and support at its 200-day MA of $26.14.

K12 Inc. is a technology-based education company. The Company offers proprietary curriculum, software, and educational services created for online delivery to students in kindergarten through 12th grade, or K-12.

SmarTrend is tracking the current trend status for K12 Inc and will alert subscribers who have LRN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle k12 inc

Ticker(s): LRN