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Possible Bullish Inside Day Candle Pattern Detected for Aac Holdings Inc (NYSE:AAC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Aac Holdings Inc (NYSE:AAC) based on the price action in the company's shares. Yesterday's price range of $6.78 and $7.23 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. Traders and investors interested in shares of Aac Holdings Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

AAC Holdings, Inc. provides inpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company staff deploys research-based treatment programs for detoxification, residential treatment, partial hospitalization, and outpatient care. AAC Holdings operates substance abuse treatment facilities throughout the United States.

Potential upside of 95.5% exists for Aac Holdings Inc, based on a current level of $7.16 and analysts' average consensus price target of $14.00. The stock should find initial resistance at its 50-day moving average (MA) of $9.05 and further resistance at its 200-day MA of $9.87.

Over the past year, Aac Holdings Inc has traded in a range of $6.72 to $12.96 and closed yesterday at $7.16, 7% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Aac Holdings Inc on June 1st, 2018 by issuing a Downtrend alert when the shares were trading at $10.60. Since that call, shares of Aac Holdings Inc have fallen 36.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle aac holdings inc

Ticker(s): AAC