• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Lithia Motors-A (NYSE:LAD)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lithia Motors-A (NYSE:LAD) based on the price action in the company's shares. Yesterday's price range of $141.16 and $143.10 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 Lithia Motors-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Lithia Motors-A share prices have moved between a 52-week high of $165.27 and a 52-week low of $79.75 and closed yesterday at 79% above that low price at $142.41 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has declined 0.6%.

Based on a current price of $142.41, Lithia Motors-A is currently 14.2% above its average consensus analyst price target of $122.22. The stock should hit resistance at its 50-day moving average (MA) of $155.26, as well as support at its 200-day MA of $129.61.

Lithia Motors, Inc. retails, finances, and services new and used vehicles. The Company also provides other related services and products, such as the sale of parts and accessories, extended service contracts, aftermarket automotive products, and collision repair services. Lithia Motors operates throughout the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Lithia Motors-A on December 24th, 2019 by issuing a Downtrend alert when the shares were trading at $148.75. Since that call, shares of Lithia Motors-A have fallen 3.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish am inside day candle lithia motors-a

Ticker(s): LAD