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Possible Bearish Inside Day Candle Pattern Detected for Kratos Defense & (NASDAQ:KTOS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kratos Defense & (NASDAQ:KTOS) based on the price action in the company's shares. Yesterday's price range of $19.35 and $19.74 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 Kratos Defense & may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $19.46, Kratos Defense & is currently 29.0% above its average consensus analyst price target of $13.81. The stock should discover initial support at its 50-day moving average (MA) of $19.16 and subsequent support at its 200-day MA of $18.90.

Kratos Defense & Security Solutions, Inc. operates as a defense contractor and security systems integrator for the federal government and for state and local agencies. The Company offers services in weapon systems lifecycle support, military weapon range, security and surveillance systems, and IT engineering.

In the past 52 weeks, shares of Kratos Defense & have traded between a low of $12.31 and a high of $25.08 and closed yesterday at $19.46, which is 58% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Kratos Defense & and will alert subscribers who have KTOS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle kratos defense &

Ticker(s): KTOS