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Possible Bullish Inside Day Candle Pattern Detected for CROCS (NASDAQ:CROX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in CROCS (NASDAQ:CROX) based on the price action in the company's shares. Yesterday's price range of $10.20 and $10.53 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 CROCS may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Crocs, Inc. designs and manufactures shoes. The Company produces soft, lightweight, non-marking, slip- and odor-resistant shoes made of closed-cell resin material. Crocs manufactures men's, women's, and children's shoes and markets them to retail chains.

There is potential upside of 24.3% for shares of CROCS based on a current price of $10.41 and an average consensus analyst price target of $12.94. The stock should hit resistance at its 200-day moving average (MA) of $11.03, as well as support at its 50-day MA of $9.35.

In the past 52 weeks, shares of CROCS have traded between a low of $7.63 and a high of $16.05 and closed yesterday at $10.41, which is 36% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 1%.

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

Keywords: bullish am inside day candle crocs

Ticker(s): CROX