• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Saia Inc (NASDAQ:SAIA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Saia Inc (NASDAQ:SAIA) based on the price action in the company's shares. Yesterday's price range of $78.00 and $79.15 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 Saia Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Saia, Inc. provides trucking transportation to the retail, petrochemical, and manufacturing industries. The Company offers regional, interregional, and national less-than-truckload services, and selected truckload services across the United States.

In the past 52 weeks, shares of Saia Inc have traded between a low of $51.05 and a high of $87.05 and closed yesterday at $78.15, which is 53% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.

Potential upside of 0.8% exists for Saia Inc, based on a current level of $78.15 and analysts' average consensus price target of $78.75. Saia Inc shares should encounter resistance at the 50-day moving average (MA) of $80.17 and support at its 200-day MA of $72.45.

SmarTrend recommended that its subscribers protect gains by selling shares of Saia Inc on June 25th, 2018 by issuing a Downtrend alert when the shares were trading at $80.65. Since that call, shares of Saia Inc have fallen 3.1%. 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 saia inc

Ticker(s): SAIA