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Possible Bullish Inside Day Candle Pattern Detected for Gladstone Investment (NASDAQ:GAIN)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gladstone Investment (NASDAQ:GAIN) based on the price action in the company's shares. Yesterday's price range of $8.65 and $8.87 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 Gladstone Investment may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Gladstone Investment share prices have been bracketed by a low of $6.40 and a high of $9.30 and closed yesterday at $8.78, 37% above that low price. The 200-day and 50-day moving averages have moved 0.39% lower and 0.19% higher over the past week, respectively.

Based on a current price of $8.78, Gladstone Investment is currently 6.0% above its average consensus analyst price target of $8.25. Gladstone Investment shares have support at the 200-day moving average (MA) of $7.34 and additional support at the 50-day MA of $6.98.

Gladstone Investment Corporation is a closed-end, non-diversified management investment company. The Company invests primarily in subordinated loans, mezzanine debt, preferred stock and warrants to purchase common stock of small and mid-sized companies in connection with acquisitions, changes in control, and recapitalizations. Gladstone also invests in senior secured loans and equities.

SmarTrend recommended that subscribers consider buying shares of Gladstone Investment on July 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.27. Since that recommendation, shares of Gladstone Investment have risen 18.7%. We continue to monitor GAIN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle gladstone investment

Ticker(s): GAIN