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Possible Bullish Inside Day Candle Pattern Detected for Core-Mark Holdin (NASDAQ:CORE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Core-Mark Holdin (NASDAQ:CORE) based on the price action in the company's shares. Yesterday's price range of $32.09 and $32.63 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 Core-Mark Holdin may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Core-Mark Holdin (NASDAQ:CORE) defies analysts with a current price ($32.41) 20.7% above its average consensus price target of $25.71. Core-Mark Holdin shares should first meet resistance at the 200-day moving average (MA) of $33.61 and find additional resistance at the 50-day MA of $37.65.

Core-Mark Holdin share prices have moved between a 52-week high of $40.95 and a 52-week low of $22.53 and closed yesterday at 44% above that low price at $32.41 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.2%.

Core-Mark Holding Company, Inc. distributes consumer packaged goods and store supplies to the convenience retail industry. The Company provides distribution and logistics services as well as value-added programs to customer locations across various states and several Canadian provinces. Core-Mark services a variety of store formats.

SmarTrend recommended that its subscribers protect gains by selling shares of Core-Mark Holdin on August 1st, 2019 by issuing a Downtrend alert when the shares were trading at $36.43. Since that call, shares of Core-Mark Holdin have fallen 11.9%. 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 core-mark holdin

Ticker(s): CORE