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Possible Bullish Inside Day Candle Pattern Detected for Blucora Inc (NASDAQ:BCOR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Blucora Inc (NASDAQ:BCOR) based on the price action in the company's shares. Yesterday's price range of $22.25 and $22.75 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 Blucora 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.

In the past 52 weeks, Blucora Inc share prices have been bracketed by a low of $18.40 and a high of $37.17 and closed yesterday at $22.68, 23% above that low price. The 200-day and 50-day moving averages have moved 0.69% lower and 0.14% lower over the past week, respectively.

Blucora Inc (NASDAQ:BCOR) has potential upside of 64.2% based on a current price of $22.68 and analysts' consensus price target of $37.25. Blucora Inc shares should first meet resistance at the 50-day moving average (MA) of $24.18 and find additional resistance at the 200-day MA of $25.84.

Blucora, Inc. provides online solutions for consumers and business partners. The Company owns and operates Internet businesses that provide online search and monetization solutions to a network of global partners as well as provide online tax preparation solutions to consumers and professional preparers.

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

Keywords: bullish am inside day candle blucora inc

Ticker(s): BCOR