• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Acadia Healthcare (NASDAQ:ACHC)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Acadia Healthcare (NASDAQ:ACHC) based on the price action in the company's shares. Today's price range of $52.43 and $53.87 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. Traders and investors interested in shares of Acadia Healthcare may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Acadia Healthcare have traded between a low of $49.77 and a high of $85.62 and are now at $53.62, which is 8% above that low price. The 200-day and 50-day moving averages have moved 0.62% lower and 0.71% higher over the past week, respectively.

Acadia Healthcare (NASDAQ:ACHC) has potential upside of 68.1% based on a current price of $53.62 and analysts' consensus price target of $90.14. The stock should run into initial resistance at its 50-day moving average (MA) of $56.82 and subsequent resistance at its 200-day MA of $64.60.

Acadia Healthcare Company, Inc. engages in the provision of behavioral healthcare services in the United States. It operates acute inpatient psychiatric facilities that provide evaluation and crisis stabilization of patients with severe psychiatric diagnoses.

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

Keywords: bullish inside day candle acadia healthcare

Ticker(s): ACHC