• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Lkq Corp (NASDAQ:LKQ)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lkq Corp (NASDAQ:LKQ) based on the price action in the company's shares. Today's price range of $27.27 and $27.28 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 Lkq Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

LKQ Corporation offers automotive products and services. The Company provides alternative collision replacement parts, recycled engines and transmissions, as well as remanufactured engines. LKQ offers customers in North America, Central America, and Europe replacement systems, components, and parts for the repair of automobiles and light, medium, and heavy-duty trucks.

In the past 52 weeks, shares of Lkq Corp have traded between a low of $22.74 and a high of $36.10 and are now at $27.28, which is 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.3%.

Lkq Corp (NASDAQ:LKQ) has potential upside of 56.8% based on a current price of $27.28 and analysts' consensus price target of $42.77. The stock should find initial resistance at its 200-day moving average (MA) of $28.77 and further resistance at its 50-day MA of $28.97.

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

Keywords: bearish inside day candle lkq corp

Ticker(s): LKQ