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Possible Bearish Inside Day Candle Pattern Detected for Lumber Liquidato (NYSE:LL)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lumber Liquidato (NYSE:LL) based on the price action in the company's shares. Today's price range of $11.11 and $11.11 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 Lumber Liquidato may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 111.9% for shares of Lumber Liquidato based on a current price of $11.11 and an average consensus analyst price target of $23.55. The stock should find resistance at its 200-day moving average (MA) of $14.37, as well as support at its 50-day MA of $10.99.

Lumber Liquidators Holdings, Inc. retails hardwood flooring in the United States. The Company sells domestic and exotic wood species in both prefinished and unfinished forms.

In the past 52 weeks, Lumber Liquidato share prices have been bracketed by a low of $8.81 and a high of $26.92 and are now at $11.11, 26% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 0.4%.

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

Keywords: bearish inside day candle lumber liquidato

Ticker(s): LL