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Possible Bullish Inside Day Candle Pattern Detected for Cdk Global Inc (NASDAQ:CDK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cdk Global Inc (NASDAQ:CDK) based on the price action in the company's shares. Yesterday's price range of $43.92 and $44.76 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 Cdk Global 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.

Cdk Global Inc share prices have moved between a 52-week high of $64.77 and a 52-week low of $43.09 and closed yesterday at 4% above that low price at $44.65 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.4%.

There is potential upside of 75.4% for shares of Cdk Global Inc based on a current price of $44.65 and an average consensus analyst price target of $78.33. The stock should find initial resistance at its 50-day moving average (MA) of $49.40 and further resistance at its 200-day MA of $52.37.

CDK Global Inc. is a provider of integrated information technology and digital marketing solutions to the automotive retail industry. The Company integrates workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair, and maintenance of vehicles.

SmarTrend recommended that its subscribers protect gains by selling shares of Cdk Global Inc on August 5th, 2019 by issuing a Downtrend alert when the shares were trading at $48.43. Since that call, shares of Cdk Global Inc have fallen 10.0%. 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 cdk global inc

Ticker(s): CDK