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Possible Bullish Inside Day Candle Pattern Detected for On Deck Capital (NYSE:ONDK)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in On Deck Capital (NYSE:ONDK) based on the price action in the company's shares. Yesterday's price range of $4.42 and $4.52 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 On Deck Capital may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

On Deck Capital has overhead space with shares priced $4.42, or 31.9% below the average consensus analyst price target of $6.50. On Deck Capital shares should encounter resistance at the 200-day moving average (MA) of $4.61 and support at the 50-day MA of $3.66.

On Deck Capital, Inc. provides capital financing services to businesses. The Company offers online tools and resources including data aggregation and electronic payment technology, and to evaluate the health of small businesses. On Deck Capital serves small and medium sized businesses in the United States.

In the past 52 weeks, shares of On Deck Capital have traded between a low of $2.88 and a high of $8.99 and closed yesterday at $4.42, which is 54% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 2.6%.

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

Keywords: bullish am inside day candle on deck capital

Ticker(s): ONDK