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

By James Quinn

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. Yesterday's price range of $31.75 and $32.61 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 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 62.9% based on a current price of $32.22 and analysts' consensus price target of $52.47. Knight Transport shares have support at the 200-day moving average (MA) of $32.00 and additional support at the 50-day MA of $31.94.

In the past 52 weeks, shares of Knight Transport have traded between a low of $23.27 and a high of $43.35 and closed yesterday at $32.22, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0.11% lower and 0.32% lower over the past week, respectively.

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 am inside day candle knight transport

Ticker(s): KNX