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Possible Bullish Inside Day Candle Pattern Detected for Ezcorp Inc-A (NASDAQ:EZPW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ezcorp Inc-A (NASDAQ:EZPW) based on the price action in the company's shares. Yesterday's price range of $9.94 and $10.09 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 Ezcorp Inc-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

EZCORP, Inc. owns and operates pawn shops that serve as sources for consumer credit and retail previously-owned merchandise. The Company operates in the United States.

Potential upside of 62.2% exists for Ezcorp Inc-A, based on a current level of $10.02 and analysts' average consensus price target of $16.25. The stock should hit resistance at its 200-day moving average (MA) of $10.78, as well as support at its 50-day MA of $8.87.

Over the past year, Ezcorp Inc-A has traded in a range of $7.45 to $15.10 and closed yesterday at $10.02, 34% above that low. The 200-day and 50-day moving averages have moved 0.76% lower and 0.76% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Ezcorp Inc-A on January 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.91. Since that recommendation, shares of Ezcorp Inc-A have risen 12.5%. We continue to monitor EZPW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle ezcorp inc-a

Ticker(s): EZPW