• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for BJ`s Wholesale Club Holdings Inc (:BJ)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in BJ`s Wholesale Club Holdings Inc (:BJ) based on the price action in the company's shares. Yesterday's price range of $22.66 and $23.12 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 BJ`s Wholesale Club 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.

BJ`s Wholesale Club Holdings Inc (:BJ) has potential upside of 39.2% based on a current price of $22.78 and analysts' consensus price target of $31.71. BJ`s Wholesale Club Holdings Inc shares should first meet resistance at the 50-day moving average (MA) of $23.85 and find additional resistance at the 200-day MA of $25.31.

Over the past year, BJ`s Wholesale Club Holdings Inc has traded in a range of $20.79 to $29.41 and closed yesterday at $22.78, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of BJ`s Wholesale Club Holdings Inc on November 21st, 2019 by issuing a Downtrend alert when the shares were trading at $23.49. Since that call, shares of BJ`s Wholesale Club Holdings Inc have fallen 3.0%. 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 :bj bj`s wholesale club holdings inc

Ticker(s): BJ