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Possible Bullish Inside Day Candle Pattern Detected for HUB Group (NASDAQ:HUBG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in HUB Group (NASDAQ:HUBG) based on the price action in the company's shares. Yesterday's price range of $39.30 and $40.25 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 HUB Group may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 20.0% for shares of HUB Group based on a current price of $40.00 and an average consensus analyst price target of $48.00. The stock should discover initial support at its 50-day moving average (MA) of $38.48 and subsequent support at its 200-day MA of $37.20.

In the past 52 weeks, shares of HUB Group have traded between a low of $28.19 and a high of $52.50 and closed yesterday at $40.00, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.53% higher over the past week, respectively.

Hub Group, Inc. is a full-service transportation provider, offering intermodal, truck brokerage, and logistics services. The Company arranges for the movement of its customers' freight in containers and trailers over long distances. Hub Group operates through a nationwide network of hubs, located near significant concentrations of shipping customers and railheads.

SmarTrend recommended that its subscribers protect gains by selling shares of HUB Group on March 21st, 2017 by issuing a Downtrend alert when the shares were trading at $45.78. Since that call, shares of HUB Group have fallen 14.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle hub group

Ticker(s): HUBG