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Possible Bullish Inside Day Candle Pattern Detected for Aaron'S Inc (NYSE:AAN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Aaron'S Inc (NYSE:AAN) based on the price action in the company's shares. Yesterday's price range of $40.23 and $41.01 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 Aaron'S 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.

Aaron'S Inc (NYSE:AAN) has potential upside of 32.0% based on a current price of $40.69 and analysts' consensus price target of $53.72. Aaron'S Inc shares should first meet resistance at the 200-day moving average (MA) of $41.95 and find additional resistance at the 50-day MA of $44.30.

In the past 52 weeks, Aaron'S Inc share prices have been bracketed by a low of $34.03 and a high of $49.77 and closed yesterday at $40.69, 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1%.

Aaron's, Inc. rents and sells office and residential furniture and accessories, consumer electronics, and household appliances. The Company also manufactures furniture, bedding, and accessories. Aaron's has Company-owned and franchised centers in the United States.

SmarTrend is tracking the current trend status for Aaron'S Inc and will alert subscribers who have AAN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle aaron's inc

Ticker(s): AAN