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Possible Bullish Inside Day Candle Pattern Detected for Cubic Corp (NYSE:CUB)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cubic Corp (NYSE:CUB) based on the price action in the company's shares. Yesterday's price range of $65.57 and $66.87 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 Cubic Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Cubic Corp (NYSE:CUB) has potential upside of 9.1% based on a current price of $66.31 and analysts' consensus price target of $72.33. Cubic Corp shares have support at the 200-day moving average (MA) of $65.60 and additional support at the 50-day MA of $64.92.

Cubic Corporation, through its defense group, provides instrumented air and ground combat training systems, battle command training, and simulation support for military forces. The Company also produces avionics, data links, and communications products. Cubic's transportation group provides intermodal ticketing systems for public transit projects worldwide.

In the past 52 weeks, Cubic Corp share prices have been bracketed by a low of $53.08 and a high of $75.20 and closed yesterday at $66.31, 25% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.6%.

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

Keywords: bullish am inside day candle cubic corp

Ticker(s): CUB