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

By Nick Russo

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 $34.20 and $35.16 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-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.

In the past 52 weeks, shares of Knight Transport have traded between a low of $23.27 and a high of $39.14 and are now at $35.16, which is 51% above that low price. The 200-day and 50-day moving averages have moved 0.03% lower and 0.40% higher over the past week, respectively.

Knight Transport has overhead space with shares priced $35.16, or 33.0% below the average consensus analyst price target of $52.47. Knight Transport shares have support at the 200-day moving average (MA) of $31.68 and additional support at the 50-day MA of $31.32.

SmarTrend recommended that subscribers consider buying shares of Knight Transport on June 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.99. Since that recommendation, shares of Knight Transport have risen 15.8%. We continue to monitor KNX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle knight transport

Ticker(s): KNX