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Possible Bullish Inside Day Candle Pattern Detected for Grand Canyon Edu (NASDAQ:LOPE)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Grand Canyon Edu (NASDAQ:LOPE) based on the price action in the company's shares. Yesterday's price range of $97.00 and $98.78 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 Grand Canyon Edu may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Grand Canyon Education, Inc., together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.

Grand Canyon Edu (NASDAQ:LOPE) has potential upside of 16.6% based on a current price of $98.19 and analysts' consensus price target of $114.50. The stock should run into initial resistance at its 200-day moving average (MA) of $113.03 and subsequent resistance at its 50-day MA of $115.17.

In the past 52 weeks, shares of Grand Canyon Edu have traded between a low of $90.67 and a high of $132.72 and closed yesterday at $98.19, which is 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has remained constant.

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

Keywords: bullish am inside day candle grand canyon edu

Ticker(s): LOPE