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Possible Bullish Inside Day Candle Pattern Detected for Hub Group-A (NASDAQ:HUBG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hub Group-A (NASDAQ:HUBG) based on the price action in the company's shares. Yesterday's price range of $40.77 and $41.63 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-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.

Over the past year, Hub Group-A has traded in a range of $34.02 to $56.60 and closed yesterday at $41.11, 21% above that low. The 200-day and 50-day moving averages have moved 0.36% lower and 0.14% lower over the past week, respectively.

There is potential upside of 18.1% for shares of Hub Group-A based on a current price of $41.11 and an average consensus analyst price target of $48.54. The stock should find initial resistance at its 50-day moving average (MA) of $42.16 and further resistance at its 200-day MA of $43.24.

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 is tracking the current trend status for Hub Group-A and will alert subscribers who have HUBG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle hub group-a

Ticker(s): HUBG