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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 $25.99 and $26.06 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.

Lkq Corp has overhead space with shares priced $25.99, or 39.2% below the average consensus analyst price target of $42.77. The stock should find initial resistance at its 50-day moving average (MA) of $26.19 and further resistance at its 200-day MA of $27.02.

Over the past year, Lkq Corp has traded in a range of $22.74 to $34.74 and is now at $25.99, 14% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Lkq Corp and will alert subscribers who have LKQ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle lkq corp

Ticker(s): LKQ