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Possible Bearish Inside Day Candle Pattern Detected for Kosmos Energy Lt (NYSE:KOS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kosmos Energy Lt (NYSE:KOS) based on the price action in the company's shares. Today's price range of $6.73 and $6.85 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 Kosmos Energy Lt may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Kosmos Energy Lt (NYSE:KOS) has potential upside of 26.2% based on a current price of $6.73 and analysts' consensus price target of $8.50. The stock should find resistance at its 200-day moving average (MA) of $6.74, as well as support at its 50-day MA of $6.10.

Over the past year, Kosmos Energy Lt has traded in a range of $3.53 to $9.75 and is now at $6.73, 91% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.5%.

Kosmos Energy Ltd. is an oil and gas exploration and production company. The Company's discoveries include hydrocarbon resources offshore along West Africa's Atlantic coast.

SmarTrend is tracking the current trend status for Kosmos Energy Lt and will alert subscribers who have KOS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle kosmos energy lt

Ticker(s): KOS