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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 $114.46 and $114.89 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.

Based on a current price of $114.78, Grand Canyon Edu is currently 0.2% above its average consensus analyst price target of $114.50. The stock should hit resistance at its 50-day moving average (MA) of $116.77, as well as support at its 200-day MA of $112.54.

In the past 52 weeks, Grand Canyon Edu share prices have been bracketed by a low of $90.67 and a high of $130.10 and closed yesterday at $114.78, 27% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.19% lower over the past week, respectively.

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