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Possible Bearish Inside Day Candle Pattern Detected for Landstar System (NASDAQ:LSTR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Landstar System (NASDAQ:LSTR) based on the price action in the company's shares. Yesterday's price range of $112.51 and $113.85 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 Landstar System may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 1.8% exists for Landstar System, based on a current level of $113.04 and analysts' average consensus price target of $115.08. Landstar System shares have support at the 50-day moving average (MA) of $110.57 and additional support at the 200-day MA of $107.45.

Landstar System, Inc. provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance.

In the past 52 weeks, shares of Landstar System have traded between a low of $90.23 and a high of $120.23 and closed yesterday at $113.04, which is 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

SmarTrend is monitoring the recent change of momentum in Landstar System. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Landstar System in search of a potential trend change.

Keywords: bearish am inside day candle landstar system

Ticker(s): LSTR