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Possible Bearish Inside Day Candle Pattern Detected for Skywest Inc (NASDAQ:SKYW)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Skywest Inc (NASDAQ:SKYW) based on the price action in the company's shares. Today's price range of $51.41 and $51.41 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 Skywest Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Skywest Inc share prices have been bracketed by a low of $42.38 and a high of $65.80 and are now at $51.41, 21% above that low price. The 200-day and 50-day moving averages have moved 0.23% lower and 0.97% higher over the past week, respectively.

SkyWest, Inc. operates regional airlines that offer scheduled passenger service to destinations in the United States, Canada, Mexico, and the Caribbean.

Potential upside of 25.9% exists for Skywest Inc, based on a current level of $51.41 and analysts' average consensus price target of $64.75. The stock should find resistance at its 200-day moving average (MA) of $54.38, as well as support at its 50-day MA of $51.07.

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

Keywords: bearish inside day candle skywest inc

Ticker(s): SKYW