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Possible Bearish Inside Day Candle Pattern Detected for Knight Transport (NYSE:KNX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Knight Transport (NYSE:KNX) based on the price action in the company's shares. Today's price range of $32.14 and $32.58 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 Knight Transport may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Knight Transport (NYSE:KNX) has potential upside of 63.2% based on a current price of $32.16 and analysts' consensus price target of $52.47. The stock should find initial support at its 200-day moving average (MA) of $32.00 and further support at its 50-day MA of $31.95.

Over the past year, Knight Transport has traded in a range of $23.27 to $43.35 and is now at $32.16, 38% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

Knight-Swift Transportation Holdings Inc., together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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

Keywords: bearish inside day candle knight transport

Ticker(s): KNX