• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Cabela's (NYSE:CAB)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cabela's (NYSE:CAB) based on the price action in the company's shares. Today's price range of $46.68 and $47.69 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 Cabela's may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Cabela's (NYSE:CAB) is currently priced 11.4% above its average consensus analyst price target of $41.50. Cabela's shares should encounter resistance at the 50-day moving average (MA) of $49.17 and support at its 200-day MA of $45.49.

In the past 52 weeks, Cabela's share prices have been bracketed by a low of $33.03 and a high of $54.97 and are now at $46.86, 42% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.

Cabela's Incorporated retails hunting, fishing, camping, and outdoor sports products and apparel. The Company markets its products through its retail stores, website, and catalog. Cabela's retail stores also offer in-house clinics associated with hunting, fishing, and camping.

SmarTrend is tracking the current trend status for Cabela's and will alert subscribers who have CAB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle cabela's

Ticker(s): CAB