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Possible Bearish Inside Day Candle Pattern Detected for Knowles Corp (NYSE:KN)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Knowles Corp (NYSE:KN) based on the price action in the company's shares. Yesterday's price range of $16.66 and $16.96 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 Knowles Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Knowles Corp (NYSE:KN) is currently priced 9.1% above its average consensus analyst price target of $15.43. Knowles Corp shares should encounter resistance at the 50-day moving average (MA) of $17.70 and support at its 200-day MA of $15.95.

In the past 52 weeks, Knowles Corp share prices have been bracketed by a low of $12.20 and a high of $19.43 and closed yesterday at $16.97, 39% above that low price. The 200-day and 50-day moving averages have moved 0.14% lower and 0.18% lower over the past week, respectively.

Knowles Corporation designs and manufactures advanced acoustic components. The Company produces components for hearing aids and surface mount microphones for cell phones and consumer electronics. Knowles offers its products around the world.

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

Keywords: bearish am inside day candle knowles corp

Ticker(s): KN